Gold Fields (NYSE:GFI) Shares Gap Up to $9.14

Gold Fields Limited (NYSE:GFI – Get Rating)’s share price gapped up before the market opened on Friday . The stock had previously closed at $9.14, but opened at $9.53. Gold Fields shares last traded at $9.57, with a volume of 832,812 shares changing hands.

Analyst Upgrades and Downgrades

GFI has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price objective on shares of Gold Fields from $10.50 to $11.50 and gave the company a “market perform” rating in a research report on Wednesday, November 23rd. StockNews.com raised shares of Gold Fields from a “hold” rating to a “buy” rating in a research report on Wednesday, January 18th. Finally, HSBC downgraded shares of Gold Fields from a “buy” rating to a “hold” rating in a research report on Monday, January 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.40.

Gold Fields Stock Performance

The company’s 50 day simple moving average is $10.86 and its 200-day simple moving average is $9.78.

Gold Fields Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, March 30th. Investors of record on Friday, March 17th will be issued a $0.2425 dividend. This represents a yield of 3%. This is a positive change from Gold Fields’s previous semi-annual dividend of $0.17. The ex-dividend date is Thursday, March 16th.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors have recently added to or reduced their stakes in GFI. Arrowstreet Capital Limited Partnership purchased a new stake in Gold Fields during the 4th quarter valued at approximately $51,703,000. Balyasny Asset Management LLC grew its holdings in Gold Fields by 6,833.8% during the 3rd quarter. Balyasny Asset Management LLC now owns 3,466,882 shares of the company’s stock valued at $28,047,000 after buying an additional 3,416,882 shares in the last quarter. BlackRock Inc. grew its holdings in Gold Fields by 10.2% during the 1st quarter. BlackRock Inc. now owns 25,589,382 shares of the company’s stock valued at $395,611,000 after buying an additional 2,368,601 shares in the last quarter. TIG Advisors LLC grew its holdings in Gold Fields by 274.4% during the 3rd quarter. TIG Advisors LLC now owns 2,874,241 shares of the company’s stock valued at $23,253,000 after buying an additional 2,106,511 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Gold Fields by 60.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,430,544 shares of the company’s stock valued at $43,933,000 after buying an additional 2,051,959 shares in the last quarter. 28.41% of the stock is owned by hedge funds and other institutional investors.

Gold Fields Company Profile

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Gold Fields Ltd. is a gold mining company, which engages in the production of gold and operation of mines. Its operating mines are located in Australia, Ghana, Peru, and South Africa. The company was founded on May 03, 1968 and is headquartered in Johannesburg, South Africa.