Gold Fields (NYSE:GFI) Shares Gap Up – What’s Next?

Gold Fields Limited (NYSE:GFI)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $24.35, but opened at $25.04. Gold Fields shares last traded at $25.17, with a volume of 306,996 shares changing hands.

Analyst Ratings Changes

GFI has been the subject of a number of research analyst reports. Scotiabank raised their price target on Gold Fields from $20.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Wall Street Zen cut Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Friday, May 30th. HSBC restated a “hold” rating and issued a $21.00 price target on shares of Gold Fields in a report on Thursday, April 17th. Finally, Hsbc Global Res upgraded Gold Fields to a “hold” rating in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Gold Fields has an average rating of “Hold” and an average target price of $18.56.

Gold Fields Stock Performance

The stock has a market cap of $22.98 billion, a PE ratio of 10.93, a PEG ratio of 0.30 and a beta of 0.55. The stock has a fifty day simple moving average of $22.88 and a two-hundred day simple moving average of $19.18.

Hedge Funds Weigh In On Gold Fields

A number of institutional investors have recently made changes to their positions in GFI. DJE Kapital AG acquired a new position in shares of Gold Fields in the 4th quarter valued at approximately $33,486,000. Clark Capital Management Group Inc. acquired a new position in shares of Gold Fields in the 1st quarter valued at approximately $49,186,000. Marshall Wace LLP raised its position in shares of Gold Fields by 1,594.7% in the 4th quarter. Marshall Wace LLP now owns 2,114,631 shares of the company’s stock valued at $27,913,000 after purchasing an additional 1,989,849 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Gold Fields in the 1st quarter valued at approximately $30,914,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Gold Fields by 153.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,486,280 shares of the company’s stock valued at $32,832,000 after purchasing an additional 900,317 shares in the last quarter. 24.81% of the stock is owned by institutional investors and hedge funds.

About Gold Fields

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.