CI Investments Inc. Raises Holdings in Gold Fields Limited $GFI

CI Investments Inc. raised its position in Gold Fields Limited (NYSE:GFI) by 7.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 232,639 shares of the company’s stock after buying an additional 15,411 shares during the period. CI Investments Inc.’s holdings in Gold Fields were worth $10,562,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in shares of Gold Fields during the 1st quarter worth approximately $25,000. CIBC Private Wealth Group LLC raised its stake in Gold Fields by 47.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock valued at $36,000 after acquiring an additional 273 shares in the last quarter. Bayforest Capital Ltd lifted its position in Gold Fields by 1,106.7% in the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock worth $47,000 after purchasing an additional 996 shares during the period. Arax Advisory Partners increased its position in shares of Gold Fields by 352.6% in the fourth quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock worth $50,000 after acquiring an additional 885 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Gold Fields by 2,152.0% in the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company’s stock worth $50,000 after acquiring an additional 2,152 shares during the last quarter. 24.81% of the stock is currently owned by institutional investors and hedge funds.

Gold Fields Price Performance

NYSE GFI opened at $33.59 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.34. Gold Fields Limited has a fifty-two week low of $23.86 and a fifty-two week high of $61.64. The business’s fifty day moving average is $36.30 and its 200 day moving average is $44.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GFI shares. Zacks Research raised shares of Gold Fields from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Canaccord Genuity Group upgraded shares of Gold Fields from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.25 to $57.25 in a research report on Friday, April 24th. JPMorgan Chase & Co. dropped their price target on Gold Fields from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Weiss Ratings downgraded shares of Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Finally, Scotiabank lowered their price objective on shares of Gold Fields from $60.00 to $52.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Gold Fields presently has a consensus rating of “Hold” and an average target price of $47.75.

Gold Fields Company Profile

Gold Fields (NYSE: GFI) is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company’s core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.