Gold Fields Limited (NYSE:GFI) Sees Significant Growth in Short Interest

Gold Fields Limited (NYSE:GFI) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 7,548,037 shares, a growth of 21.4% from the February 26th total of 6,216,209 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 3,829,788 shares, the short-interest ratio is currently 2.0 days.

Gold Fields Trading Up 7.1%

NYSE GFI opened at $45.32 on Wednesday. Gold Fields has a 52 week low of $19.35 and a 52 week high of $61.64. The business’s fifty day simple moving average is $51.00 and its 200-day simple moving average is $45.51.

Gold Fields Announces Dividend

The company also recently announced a special dividend, which was paid on Thursday, March 26th. Shareholders of record on Friday, March 13th were paid a dividend of $1.4419 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a yield of 633.0%.

Institutional Trading of Gold Fields

Several hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC increased its holdings in shares of Gold Fields by 47.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after buying an additional 273 shares during the last quarter. Archer Investment Corp acquired a new position in Gold Fields in the third quarter valued at approximately $42,000. Cary Street Partners Investment Advisory LLC purchased a new position in Gold Fields in the third quarter worth approximately $45,000. Bayforest Capital Ltd grew its position in Gold Fields by 1,106.7% in the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock worth $47,000 after acquiring an additional 996 shares during the period. Finally, Arax Advisory Partners increased its stake in Gold Fields by 352.6% during the fourth quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock worth $50,000 after acquiring an additional 885 shares during the last quarter. Hedge funds and other institutional investors own 24.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GFI. Scotiabank dropped their target price on shares of Gold Fields from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, March 20th. Morgan Stanley lowered shares of Gold Fields from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. upped their price objective on shares of Gold Fields from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Wall Street Zen raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Finally, Zacks Research upgraded Gold Fields from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Gold Fields presently has a consensus rating of “Hold” and a consensus target price of $43.88.

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.