Gold Fields (NYSE:GFI) Shares Gap Up – Here’s What Happened

Shares of Gold Fields Limited (NYSE:GFI) gapped up before the market opened on Friday . The stock had previously closed at $13.58, but opened at $13.87. Gold Fields shares last traded at $13.93, with a volume of 130,421 shares.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Scotiabank cut their price objective on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Investec raised Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their price objective on Gold Fields from $18.00 to $17.10 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Bank of America initiated coverage on shares of Gold Fields in a report on Monday, September 16th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, StockNews.com downgraded shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.03.

Gold Fields Stock Up 2.4 %

The company has a market capitalization of $12.45 billion, a P/E ratio of 6.59, a P/E/G ratio of 0.43 and a beta of 1.13. The firm’s 50-day moving average price is $15.40 and its 200 day moving average price is $15.37.

Institutional Investors Weigh In On Gold Fields

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in shares of Gold Fields by 3.3% during the 3rd quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock worth $744,566,000 after buying an additional 1,549,372 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Gold Fields by 10.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock valued at $94,492,000 after purchasing an additional 580,546 shares during the period. RWC Asset Management LLP increased its position in shares of Gold Fields by 10.0% during the 2nd quarter. RWC Asset Management LLP now owns 3,588,984 shares of the company’s stock valued at $53,476,000 after purchasing an additional 324,885 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Gold Fields by 28.7% during the 2nd quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock worth $38,878,000 after purchasing an additional 581,730 shares during the period. Finally, Bamco Inc. NY boosted its holdings in shares of Gold Fields by 4.8% in the 3rd quarter. Bamco Inc. NY now owns 2,018,817 shares of the company’s stock worth $30,989,000 after buying an additional 92,571 shares during the last quarter. 24.81% of the stock is owned by hedge funds and other institutional investors.

Gold Fields Company Profile

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Canada, Australia, and Peru. It also explores for copper and silver deposits. The company was founded in 1887 and is based in Sandton, South Africa.