Gold Fields (NYSE:GFI) Shares Gap Up – Time to Buy?

Gold Fields Limited (NYSE:GFI)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $15.69, but opened at $16.28. Gold Fields shares last traded at $16.37, with a volume of 437,394 shares changing hands.

Analysts Set New Price Targets

GFI has been the subject of several recent analyst reports. StockNews.com upgraded Gold Fields from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lowered their target price 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. Bank of America initiated coverage on Gold Fields in a research note on Monday, September 16th. They set a “buy” rating and a $16.00 target price for the company. 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 research note on Monday, August 26th. Finally, BMO Capital Markets upgraded Gold Fields from an “underperform” rating to a “market perform” rating and raised their target price for the company from $13.50 to $14.00 in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.93.

Gold Fields Stock Up 4.9 %

The stock has a 50 day moving average of $15.07 and a 200 day moving average of $15.80.

Gold Fields Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were paid a $0.1692 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 2.2%.

Hedge Funds Weigh In On Gold Fields

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Gold Fields by 78.4% in the first quarter. GAMMA Investing LLC now owns 3,098 shares of the company’s stock worth $49,000 after acquiring an additional 1,361 shares during the last quarter. LGT Fund Management Co Ltd. bought a new position in Gold Fields in the second quarter worth about $149,000. Concurrent Investment Advisors LLC bought a new position in Gold Fields in the second quarter worth about $153,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Gold Fields by 10.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock worth $172,000 after acquiring an additional 1,090 shares during the last quarter. Finally, Candriam S.C.A. bought a new position in Gold Fields in the second quarter worth about $189,000. Institutional investors own 26.02% of the company’s stock.

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.