Gold Fields (NYSE:GFI) Shares Break Below Fifty Day Moving Average – Time to Sell?

Gold Fields Limited (NYSE:GFI) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $38.97 and traded as low as $37.86. Gold Fields shares last traded at $38.1570, with a volume of 4,031,242 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on GFI. Zacks Research raised Gold Fields from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Gold Fields in a research report on Monday, August 31st. Scotiabank decreased 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. The Goldman Sachs Group initiated coverage on Gold Fields in a research note on Thursday, October 15th. They issued a “neutral” rating and a $38.00 price target for the company. Finally, Wall Street Zen downgraded shares of Gold Fields from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.46.

Gold Fields Stock Down 7.0%

The company’s fifty day simple moving average is $38.97 and its two-hundred day simple moving average is $42.27.

Gold Fields Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 11th were given a dividend of $1.0144 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a dividend yield of 450.0%.

Hedge Funds Weigh In On Gold Fields

Several institutional investors have recently modified their holdings of the business. U S Global Investors Inc. increased its stake in Gold Fields by 732.1% during the 3rd quarter. U S Global Investors Inc. now owns 208,031 shares of the company’s stock worth $7,514,000 after purchasing an additional 183,031 shares in the last quarter. Oakmont Investment Advisors Inc. acquired a new stake in Gold Fields during the 2nd quarter worth approximately $912,000. Crescent Grove Advisors LLC acquired a new stake in Gold Fields during the 1st quarter worth approximately $1,795,000. Engineers Gate Manager LP raised its holdings in Gold Fields by 51.0% during the 2nd quarter. Engineers Gate Manager LP now owns 87,455 shares of the company’s stock worth $2,938,000 after buying an additional 29,555 shares during the period. Finally, Bank of America Corp DE lifted its stake in Gold Fields by 32.1% in the first quarter. Bank of America Corp DE now owns 771,791 shares of the company’s stock valued at $35,039,000 after buying an additional 187,755 shares in the last quarter. Institutional investors own 24.81% of the company’s stock.

Gold Fields Company Profile

Gold Fields Limited is a South Africa-based gold mining company. Its business includes the exploration, development, extraction and processing of mineral resources, with gold as its primary product and copper produced at some operations. The company operates mines and projects in Australia, Ghana, Peru, South Africa and Chile. Its activities span the full mining cycle, from evaluating and developing deposits to operating mines and processing ore. Gold Fields was formed in 1998 through the combination of Gold Fields of South Africa and Gencor’s gold assets.