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

Gold Fields Limited (NYSE:GFI) shares gapped up prior to trading on Wednesday . The stock had previously closed at $44.66, but opened at $46.05. Gold Fields shares last traded at $45.9650, with a volume of 669,025 shares.

Wall Street Analysts Forecast Growth

GFI has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Gold Fields from $75.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Zacks Research cut Gold Fields from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Wall Street Zen downgraded Gold Fields from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Scotiabank cut their price target on Gold Fields from $60.00 to $52.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Gold Fields in a research report on Monday. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $54.05.

Gold Fields Stock Up 7.5%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.33 and a current ratio of 1.87. The firm’s 50 day simple moving average is $37.82 and its 200 day simple moving average is $42.18.

Gold Fields Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, September 24th. Stockholders of record on Friday, September 11th will be issued a dividend of $1.0144 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a dividend yield of 421.0%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have 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 valued at approximately $25,000. CIBC Private Wealth Group LLC increased its holdings in Gold Fields by 47.1% in the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock valued at $36,000 after buying an additional 273 shares in the last quarter. Arax Advisory Partners increased its holdings in Gold Fields by 352.6% in the fourth quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock valued at $50,000 after buying an additional 885 shares in the last quarter. NewEdge Advisors LLC raised its position 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 period. Finally, Smartleaf Asset Management LLC grew its position in shares of Gold Fields by 606.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,664 shares of the company’s stock valued at $61,000 after acquiring an additional 2,287 shares during the period. 24.81% of the stock is currently owned by institutional investors and hedge funds.

About Gold Fields

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.