Gold Fields (NYSE:GFI) Shares Gap Up – Should You Buy?

Gold Fields Limited (NYSE:GFI) shares gapped up prior to trading on Monday. The stock had previously closed at $32.92, but opened at $34.41. Gold Fields shares last traded at $34.96, with a volume of 1,621,969 shares traded.

Wall Street Analysts Forecast Growth

GFI has been the subject of several recent research reports. Wall Street Zen downgraded Gold Fields from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Royal Bank Of Canada increased their price objective on Gold Fields from $49.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Gold Fields in a report on Monday, August 31st. Scotiabank reduced their target price on Gold Fields from $60.00 to $52.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group started coverage on shares of Gold Fields in a research report on Thursday, October 15th. They issued a “neutral” rating and a $38.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.46.

Gold Fields Price Performance

The company has a 50-day moving average price of $40.37 and a two-hundred day moving average price of $42.74.

Gold Fields Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, September 24th. Investors of record on Friday, September 11th were issued a dividend of $1.0144 per share. The ex-dividend date was Friday, September 11th. This represents a yield of 450.0%.

Institutional Investors Weigh In On Gold Fields

Large investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Gold Fields by 10.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 39,707 shares of the company’s stock valued at $1,434,000 after acquiring an additional 3,649 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gold Fields in the third quarter valued at about $71,000. Vise Technologies Inc. raised its stake in Gold Fields by 17.1% in the 3rd quarter. Vise Technologies Inc. now owns 36,179 shares of the company’s stock worth $1,307,000 after acquiring an additional 5,284 shares during the last quarter. Aprio Wealth Management LLC lifted its position in Gold Fields by 5.8% during the third quarter. Aprio Wealth Management LLC now owns 14,341 shares of the company’s stock valued at $518,000 after purchasing an additional 787 shares during the period. Finally, Ativo Capital Management LLC acquired a new stake in Gold Fields during the third quarter valued at $1,475,000. 24.81% of the stock is currently owned by institutional investors.

Gold Fields Company Profile

Gold Fields Limited (NYSE:GFI) is a global gold producer headquartered in Johannesburg, South Africa. The company explores for, develops and operates gold mines, producing doré and refined gold for sale to international markets. Its activities include mine development, underground and open-pit mining, ore processing and exploration for additional mineral resources.

Gold Fields has a history dating to 1887 and has grown into one of the world’s major gold-mining companies through acquisitions, partnerships and the development of its own projects.