Gold Fields Limited (NYSE:GFI) Raises Dividend to $0.38 Per Share

Gold Fields Limited (NYSE:GFI) announced a semi-annual dividend on Monday, March 3rd, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.3752 per share on Thursday, March 27th. This represents a yield of 1.6%. The ex-dividend date is Friday, March 14th. This is a 121.8% increase from Gold Fields’s previous semi-annual dividend of $0.17.

Gold Fields has increased its dividend payment by an average of 2.4% annually over the last three years. Gold Fields has a dividend payout ratio of 14.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Gold Fields to earn $2.18 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 15.6%.

Gold Fields Trading Up 2.4 %

Shares of GFI traded up $0.45 during mid-day trading on Wednesday, reaching $19.47. 2,798,268 shares of the stock traded hands, compared to its average volume of 2,982,024. The company has a market cap of $17.43 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 0.30 and a beta of 1.14. Gold Fields has a 1 year low of $12.98 and a 1 year high of $19.80. The firm has a fifty day moving average price of $16.62 and a 200 day moving average price of $15.65.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GFI. JPMorgan Chase & Co. boosted their target price on Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Scotiabank lifted their target price on shares of Gold Fields from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 25th. Finally, StockNews.com raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

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.