Gold Fields (NYSE:GFI) Shares Gap Up – Time to Buy?

Gold Fields Limited (NYSE:GFI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $40.66, but opened at $43.37. Gold Fields shares last traded at $42.7350, with a volume of 903,996 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Gold Fields from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Gold Fields in a report on Thursday, January 22nd. Zacks Research raised shares of Gold Fields from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Morgan Stanley lowered shares of Gold Fields from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 23rd. Finally, Scotiabank cut their price target on shares of Gold Fields from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $43.88.

Gold Fields Price Performance

The stock has a 50 day simple moving average of $51.44 and a two-hundred day simple moving average of $45.25.

Gold Fields Announces Dividend

The company also recently announced a special dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 13th were paid a $1.4419 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a dividend yield of 633.0%.

Institutional Trading of Gold Fields

Several institutional investors and hedge funds have recently added to or reduced their stakes in GFI. CIBC Private Wealth Group LLC grew its position in shares of Gold Fields by 47.1% in 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 during the period. Archer Investment Corp acquired a new position in shares of Gold Fields during the 3rd quarter worth about $42,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Gold Fields in the 3rd quarter valued at about $45,000. Bayforest Capital Ltd raised its holdings in shares of Gold Fields by 1,106.7% in the 4th quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock valued at $47,000 after purchasing an additional 996 shares during the period. Finally, Country Trust Bank acquired a new stake in Gold Fields in the 2nd quarter valued at about $26,000. 24.81% of the stock is owned by institutional investors.

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.