Gold Fields (NYSE:GFI) Shares Gap Up – Still a Buy?

Gold Fields Limited (NYSE:GFI)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $32.92, but opened at $34.41. Gold Fields shares last traded at $34.96, with a volume of 1,621,969 shares traded.

Wall Street Analyst Weigh In

GFI has been the subject of several recent research reports. RBC Dominion Securities set a $54.00 price target on Gold Fields and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Gold Fields in a report on Monday, August 31st. JPMorgan Chase & Co. reduced their price target on shares of Gold Fields from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Scotiabank lowered their price target on Gold Fields from $60.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, Wall Street Zen lowered Gold Fields from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.46.

Gold Fields Stock Up 6.1%

The firm’s 50 day moving average is $40.37 and its two-hundred day moving average is $42.74.

Gold Fields Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, September 24th. Investors of record on Friday, September 11th were issued a $1.0144 dividend. The ex-dividend date was Friday, September 11th. This represents a yield of 450.0%.

Institutional Investors Weigh In On Gold Fields

Several large investors have recently modified their holdings of GFI. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Gold Fields by 10.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 39,707 shares of the company’s stock worth $1,434,000 after purchasing an additional 3,649 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Gold Fields during the third quarter valued at approximately $71,000. Vise Technologies Inc. grew its position in shares of Gold Fields by 17.1% during the 3rd quarter. Vise Technologies Inc. now owns 36,179 shares of the company’s stock valued at $1,307,000 after acquiring an additional 5,284 shares during the period. Aprio Wealth Management LLC boosted its position in shares of Gold Fields by 5.8% during the third quarter. Aprio Wealth Management LLC now owns 14,341 shares of the company’s stock worth $518,000 after acquiring an additional 787 shares during the last quarter. Finally, Ativo Capital Management LLC purchased a new position in Gold Fields in the third quarter worth about $1,475,000. Hedge funds and other institutional investors own 24.81% of the company’s stock.

Gold Fields Company Profile

Gold Fields Limited (NYSE:GFI) is a global gold producer headquartered in Johannesburg, South Africa. The company explores for, develops and operates gold mines, producing doré and refined gold for sale to international markets. Its activities include mine development, underground and open-pit mining, ore processing and exploration for additional mineral resources.

Gold Fields has a history dating to 1887 and has grown into one of the world’s major gold-mining companies through acquisitions, partnerships and the development of its own projects.