Gold Fields (NYSE:GFI) Shares Gap Down – Here’s Why

Gold Fields Limited (NYSE:GFI) gapped down prior to trading on Friday . The stock had previously closed at $58.61, but opened at $53.19. Gold Fields shares last traded at $55.03, with a volume of 724,473 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on GFI. Scotiabank increased their price objective on shares of Gold Fields from $47.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Wall Street Zen cut shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Morgan Stanley lowered Gold Fields from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 23rd. Investec cut Gold Fields from a “buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Royal Bank Of Canada lowered their target price on Gold Fields to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.00.

Gold Fields Price Performance

The stock has a 50-day simple moving average of $46.49 and a 200-day simple moving average of $39.49.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GFI. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Gold Fields by 1.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,003 shares of the company’s stock valued at $786,000 after purchasing an additional 251 shares in the last quarter. Harbour Capital Advisors LLC increased its holdings in Gold Fields by 0.5% in the fourth quarter. Harbour Capital Advisors LLC now owns 50,525 shares of the company’s stock valued at $2,201,000 after buying an additional 265 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in Gold Fields by 47.1% during the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock valued at $36,000 after buying an additional 273 shares in the last quarter. Bridgewater Advisors Inc. lifted its holdings in Gold Fields by 1.6% during the 3rd quarter. Bridgewater Advisors Inc. now owns 20,692 shares of the company’s stock worth $868,000 after buying an additional 317 shares during the last quarter. Finally, CWM LLC grew its position in shares of Gold Fields by 24.7% in the 3rd quarter. CWM LLC now owns 2,086 shares of the company’s stock worth $88,000 after acquiring an additional 413 shares in the last quarter. 24.81% of the stock is owned by institutional investors and hedge funds.

About Gold Fields

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.