ABC Arbitrage SA Buys New Stake in Gold Fields Limited $GFI

ABC Arbitrage SA bought a new position in shares of Gold Fields Limited (NYSE:GFI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 211,430 shares of the company’s stock, valued at approximately $8,872,000. Gold Fields comprises 0.9% of ABC Arbitrage SA’s portfolio, making the stock its 28th largest position.

A number of other hedge funds also recently bought and sold shares of GFI. Arrowstreet Capital Limited Partnership increased its stake in shares of Gold Fields by 84.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company’s stock worth $131,350,000 after purchasing an additional 2,545,579 shares during the period. Invesco Ltd. grew its holdings in Gold Fields by 32.9% in the 2nd quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock valued at $116,443,000 after buying an additional 1,217,594 shares during the last quarter. DJE Kapital AG increased its position in Gold Fields by 19.7% in the 2nd quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock worth $105,260,000 after buying an additional 742,174 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Gold Fields by 32.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,371,211 shares of the company’s stock worth $183,416,000 after buying an additional 1,062,242 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Gold Fields by 5.5% during the second quarter. American Century Companies Inc. now owns 3,327,085 shares of the company’s stock worth $78,752,000 after buying an additional 172,239 shares during the last quarter. 24.81% of the stock is currently owned by institutional investors.

Gold Fields Price Performance

GFI opened at $55.81 on Wednesday. The company’s 50 day simple moving average is $47.99 and its 200-day simple moving average is $40.98. Gold Fields Limited has a one year low of $17.64 and a one year high of $61.64.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GFI shares. Scotiabank boosted their target price 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. Royal Bank Of Canada decreased their price target on shares of Gold Fields to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Zacks Research upgraded shares of Gold Fields from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Citigroup increased their target price on shares of Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Finally, Morgan Stanley downgraded Gold Fields from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.00.

Gold Fields Company Profile

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.