Gabelli Funds LLC Lowers Stock Holdings in Gold Fields Limited (NYSE:GFI)

Gabelli Funds LLC trimmed its position in shares of Gold Fields Limited (NYSE:GFI) by 6.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 561,000 shares of the company’s stock after selling 36,500 shares during the quarter. Gabelli Funds LLC’s holdings in Gold Fields were worth $8,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in Gold Fields by 6.6% during the 1st quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock valued at $750,667,000 after acquiring an additional 2,934,943 shares during the period. RWC Asset Advisors US LLC boosted its holdings in Gold Fields by 19.3% during the 4th quarter. RWC Asset Advisors US LLC now owns 12,810,699 shares of the company’s stock valued at $185,243,000 after acquiring an additional 2,070,427 shares during the period. First Eagle Investment Management LLC purchased a new position in Gold Fields during the 1st quarter valued at about $85,326,000. Massachusetts Financial Services Co. MA boosted its holdings in Gold Fields by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,377,766 shares of the company’s stock valued at $48,842,000 after acquiring an additional 70,646 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in Gold Fields by 4.5% during the 4th quarter. Schroder Investment Management Group now owns 3,240,748 shares of the company’s stock valued at $46,861,000 after acquiring an additional 139,205 shares during the period. 26.02% of the stock is currently owned by hedge funds and other institutional investors.

Gold Fields Stock Performance

Shares of GFI traded up $0.13 during midday trading on Friday, hitting $16.32. The company had a trading volume of 1,510,986 shares, compared to its average volume of 2,953,351. The company’s 50-day simple moving average is $15.61 and its 200-day simple moving average is $15.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.70 and a current ratio of 1.25. Gold Fields Limited has a 1 year low of $10.31 and a 1 year high of $18.97.

Analysts Set New Price Targets

A number of brokerages recently commented on GFI. Scotiabank lowered their target price on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a report on Friday, June 14th. UBS Group cut Gold Fields from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 10th. BMO Capital Markets upgraded Gold Fields from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $13.50 to $14.00 in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. decreased their price objective on Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.90.

About Gold Fields

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Canada, Australia, and Peru. It also explores for copper and silver deposits. The company was founded in 1887 and is based in Sandton, South Africa.