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

Gold Fields Limited (NYSE:GFI)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $20.65, but opened at $21.48. Gold Fields shares last traded at $21.39, with a volume of 596,420 shares traded.

Analysts Set New Price Targets

GFI has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Scotiabank lifted their price objective on 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 upgraded Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Gold Fields Price Performance

The firm has a market capitalization of $19.61 billion, a P/E ratio of 9.32, a PEG ratio of 0.30 and a beta of 1.14. The company’s 50 day moving average price is $18.10 and its 200 day moving average price is $16.05.

Gold Fields Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 14th will be given a $0.3752 dividend. This represents a yield of 1.6%. This is a positive change from Gold Fields’s previous semi-annual dividend of $0.17. The ex-dividend date is Friday, March 14th. Gold Fields’s dividend payout ratio (DPR) is presently 25.53%.

Institutional Investors Weigh In On Gold Fields

Institutional investors and hedge funds have recently made changes to their positions in the company. ABC Arbitrage SA acquired a new stake in shares of Gold Fields during the 4th quarter worth approximately $1,641,000. Bank of Montreal Can raised its holdings in shares of Gold Fields by 36.9% during the third quarter. Bank of Montreal Can now owns 263,575 shares of the company’s stock worth $4,280,000 after acquiring an additional 71,094 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Gold Fields by 10.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock worth $94,492,000 after buying an additional 580,546 shares during the period. Rhumbline Advisers boosted its position in Gold Fields by 4.3% during the 4th quarter. Rhumbline Advisers now owns 17,332 shares of the company’s stock worth $229,000 after acquiring an additional 720 shares during the last quarter. Finally, Range Financial Group LLC bought a new position in Gold Fields in the fourth quarter valued at $770,000. Institutional investors own 24.81% 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.