Zacks Investment Research upgraded shares of Gold Fields Ltd. (NYSE:GFI) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $5.50 target price on the stock.
According to Zacks, “Gold Fields Limited is one of the world’s largest unhedged gold producers with operating mines in South Africa, Ghana, and Australia. “
A number of other equities research analysts also recently issued reports on the stock. Macquarie raised shares of Gold Fields from a neutral rating to an outperform rating in a report on Friday, September 2nd. Goldman Sachs Group Inc. raised shares of Gold Fields from a sell rating to a neutral rating in a report on Monday, June 27th. Royal Bank Of Canada raised shares of Gold Fields from a sector perform rating to an outperform rating and increased their price target for the stock from $4.08 to $4.39 in a report on Wednesday, June 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. raised shares of Gold Fields from an underweight rating to a neutral rating in a report on Tuesday, July 12th. Finally, Citigroup Inc. reissued a sell rating on shares of Gold Fields in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Gold Fields has a consensus rating of Buy and a consensus target price of C$5.08.
Shares of Gold Fields (NYSE:GFI) opened at 4.80 on Wednesday. The firm’s 50-day moving average is $5.38 and its 200-day moving average is $4.84. The company’s market capitalization is $3.94 billion. Gold Fields has a 12-month low of $2.04 and a 12-month high of $6.60.
The business also recently announced a dividend, which was paid on Monday, September 12th. Investors of record on Friday, September 9th were paid a $0.037 dividend. This is an increase from Gold Fields’s previous dividend of $0.03. The ex-dividend date was Wednesday, September 7th. Gold Fields’s dividend payout ratio (DPR) is currently -12.90%.
A number of large investors have recently made changes to their positions in GFI. Orbis Allan Gray Ltd bought a new stake in shares of Gold Fields during the first quarter worth $245,908,000. AQR Capital Management LLC increased its stake in shares of Gold Fields by 327.6% in the second quarter. AQR Capital Management LLC now owns 17,935,023 shares of the company’s stock worth $87,882,000 after buying an additional 13,740,924 shares in the last quarter. Anchor Bolt Capital LP increased its stake in shares of Gold Fields by 149.2% in the second quarter. Anchor Bolt Capital LP now owns 10,734,873 shares of the company’s stock worth $52,601,000 after buying an additional 6,426,288 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Gold Fields by 71.0% in the first quarter. Renaissance Technologies LLC now owns 12,257,500 shares of the company’s stock worth $48,295,000 after buying an additional 5,087,300 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Gold Fields by 55.4% in the second quarter. Acadian Asset Management LLC now owns 13,344,022 shares of the company’s stock worth $65,385,000 after buying an additional 4,755,011 shares in the last quarter. 36.51% of the stock is currently owned by institutional investors and hedge funds.
About Gold Fields
Gold Fields Limited (Gold Fields) is a gold mining company. The Company is a producer of gold and a holder of gold reserves. The Company is involved in underground and surface gold and copper mining and related activities, including exploration, development, extraction, processing and smelting. It has approximately eight producing mines located in South Africa, Ghana, Australia and Peru.
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