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

Gold Fields Limited (NYSE:GFI)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $34.11, but opened at $36.92. Gold Fields shares last traded at $36.86, with a volume of 1,007,546 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Gold Fields from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada reduced their price objective on shares of Gold Fields from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Weiss Ratings lowered Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. dropped their target price on Gold Fields from $75.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Finally, Canaccord Genuity Group upgraded 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 report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Gold Fields currently has a consensus rating of “Hold” and an average target price of $47.75.

Gold Fields Stock Performance

The company’s fifty day simple moving average is $34.93 and its 200-day simple moving average is $43.70. The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.34.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its stake in Gold Fields by 69.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,384,047 shares of the company’s stock valued at $191,407,000 after buying an additional 1,794,124 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Gold Fields by 39.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,085,653 shares of the company’s stock worth $265,700,000 after acquiring an additional 1,714,442 shares during the last quarter. Man Group plc increased its holdings in shares of Gold Fields by 63.7% during the fourth quarter. Man Group plc now owns 3,650,799 shares of the company’s stock valued at $159,394,000 after acquiring an additional 1,421,121 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Gold Fields by 211.0% during the fourth quarter. AQR Capital Management LLC now owns 1,791,823 shares of the company’s stock valued at $78,231,000 after acquiring an additional 1,215,647 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Gold Fields by 3.4% in the 4th quarter. Van ECK Associates Corp now owns 35,483,903 shares of the company’s stock valued at $1,549,227,000 after purchasing an additional 1,180,634 shares during the last quarter. 24.81% of the stock is currently owned by hedge funds and other 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.