Gold Fields (NYSE:GFI) Shares Gap Down – Here’s Why

Gold Fields Limited (NYSE:GFI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $15.24, but opened at $14.78. Gold Fields shares last traded at $14.77, with a volume of 387,016 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Scotiabank cut their price objective on 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. Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com downgraded Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Bank of America initiated coverage on shares of Gold Fields in a report on Monday, September 16th. They issued a “buy” rating and a $16.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Gold Fields presently has an average rating of “Hold” and a consensus price target of $15.93.

Gold Fields Trading Down 0.1 %

The company has a fifty day moving average of $15.82 and a 200-day moving average of $15.59.

Institutional Investors Weigh In On Gold Fields

A number of hedge funds have recently bought and sold shares of GFI. State Street Corp increased its stake in shares of Gold Fields by 2.2% in the third quarter. State Street Corp now owns 1,194,633 shares of the company’s stock worth $18,338,000 after purchasing an additional 25,972 shares during the period. Quantinno Capital Management LP grew its holdings in Gold Fields by 11.1% in the 3rd quarter. Quantinno Capital Management LP now owns 21,205 shares of the company’s stock valued at $326,000 after buying an additional 2,118 shares during the last quarter. Centiva Capital LP bought a new position in Gold Fields in the 3rd quarter worth approximately $521,000. Bamco Inc. NY lifted its holdings in shares of Gold Fields by 4.8% during the third quarter. Bamco Inc. NY now owns 2,018,817 shares of the company’s stock worth $30,989,000 after buying an additional 92,571 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Gold Fields in the third quarter worth $9,911,000. 26.02% of the stock is currently owned by 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.