Gold Fields (NYSE:GFI) Shares Gap Down – What’s Next?

Gold Fields Limited (NYSE:GFI)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $15.80, but opened at $14.81. Gold Fields shares last traded at $14.61, with a volume of 1,297,603 shares.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GFI shares. StockNews.com lowered shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Scotiabank reduced their price objective on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. Bank of America started coverage on Gold Fields in a report on Monday, September 16th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Investec raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.93.

Gold Fields Trading Down 3.1 %

The company’s fifty day moving average is $15.67 and its two-hundred day moving average is $15.75.

Gold Fields Cuts Dividend

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

Institutional Trading of Gold Fields

A number of institutional investors and hedge funds have recently modified their holdings of GFI. Creative Planning lifted its position in Gold Fields by 15.2% in the 2nd quarter. Creative Planning now owns 54,242 shares of the company’s stock valued at $808,000 after purchasing an additional 7,155 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Gold Fields in the third quarter worth approximately $10,600,000. Range Financial Group LLC purchased a new position in shares of Gold Fields in the second quarter worth approximately $1,243,000. Van ECK Associates Corp grew its stake in Gold Fields by 3.3% during the 3rd quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock valued at $744,566,000 after acquiring an additional 1,549,372 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Gold Fields during the third quarter worth $1,052,000. 26.02% of the stock is owned by institutional investors and hedge funds.

Gold Fields Company Profile

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.