Traders Purchase High Volume of Call Options on Gold Fields (NYSE:GFI)

Gold Fields Limited (NYSE:GFI) was the recipient of some unusual options trading on Wednesday. Stock investors bought 6,720 call options on the company. This is an increase of approximately 299% compared to the typical daily volume of 1,684 call options.

Gold Fields Stock Performance

GFI stock traded up $3.31 during midday trading on Wednesday, reaching $37.42. 1,904,425 shares of the company’s stock traded hands, compared to its average volume of 3,480,088. The company has a 50-day moving average price of $34.93 and a two-hundred day moving average price of $43.70. The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.34. Gold Fields has a 52 week low of $29.24 and a 52 week high of $61.64.

Analysts Set New Price Targets

GFI has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Gold Fields from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Zacks Research downgraded shares of Gold Fields from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Scotiabank dropped their price objective on shares of Gold Fields from $60.00 to $52.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Finally, Canaccord Genuity Group upgraded shares of Gold Fields from a “hold” rating to a “buy” rating and lifted their target price for the stock from $40.25 to $57.25 in a research note on Friday, April 24th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Gold Fields has an average rating of “Hold” and an average price target of $47.75.

Institutional Trading of Gold Fields

A number of hedge funds and other institutional investors have recently made changes to their positions in GFI. Millennium Management LLC boosted its stake in Gold Fields by 20.3% in the 1st quarter. Millennium Management LLC now owns 191,482 shares of the company’s stock worth $4,230,000 after purchasing an additional 32,343 shares during the period. NewEdge Advisors LLC increased its position in shares of Gold Fields by 2,152.0% during the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company’s stock valued at $50,000 after buying an additional 2,152 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Gold Fields in the first quarter worth about $236,000. Jones Financial Companies Lllp purchased a new stake in shares of Gold Fields in the first quarter worth about $268,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Gold Fields by 183.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,935 shares of the company’s stock worth $69,000 after buying an additional 1,900 shares in the last quarter. 24.81% of the stock is currently 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.