Short Interest in Gold Fields Limited (NYSE:GFI) Increases By 20.0%

Gold Fields Limited (NYSE:GFI) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 9,170,000 shares, a growth of 20.0% from the August 15th total of 7,640,000 shares. Based on an average daily trading volume, of 3,460,000 shares, the days-to-cover ratio is presently 2.7 days.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Scotiabank dropped their price objective on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Bank of America began coverage on Gold Fields in a report on Monday. They issued a “buy” rating and a $16.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. StockNews.com raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets raised Gold Fields from an “underperform” rating to a “market perform” rating and upped their price target for the company from $13.50 to $14.00 in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.93.

Gold Fields Stock Performance

Shares of Gold Fields stock traded down $0.07 on Tuesday, hitting $14.45. The stock had a trading volume of 3,014,547 shares, compared to its average volume of 3,820,947. The company’s 50 day moving average price is $15.48 and its 200 day moving average price is $15.74. The company has a quick ratio of 0.70, a current ratio of 1.77 and a debt-to-equity ratio of 0.33. Gold Fields has a 52-week low of $10.31 and a 52-week high of $18.97.

Gold Fields Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 13th will be paid a $0.1692 dividend. This represents a yield of 2.2%. The ex-dividend date is Friday, September 13th.

Hedge Funds Weigh In On Gold Fields

A number of hedge funds have recently modified their holdings of the business. First Eagle Investment Management LLC purchased a new position in shares of Gold Fields during the first quarter worth about $85,326,000. Van ECK Associates Corp grew its stake in shares of Gold Fields by 6.6% in the 1st quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock valued at $750,667,000 after purchasing an additional 2,934,943 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Gold Fields by 145.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,129,278 shares of the company’s stock valued at $16,329,000 after purchasing an additional 669,819 shares during the period. South Street Advisors LLC purchased a new stake in shares of Gold Fields during the first quarter worth approximately $9,260,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Gold Fields by 28.7% during the second quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock worth $38,878,000 after purchasing an additional 581,730 shares during the period. 26.02% of the stock is currently owned by hedge funds and other institutional investors.

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.