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

Gold Fields Limited (NYSE:GFI)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $22.09, but opened at $22.65. Gold Fields shares last traded at $22.93, with a volume of 1,251,716 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GFI. Scotiabank raised their target price 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. StockNews.com upgraded Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, JPMorgan Chase & Co. upped their target price 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. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.20.

Gold Fields Stock Performance

The firm’s 50-day moving average price is $19.37 and its two-hundred day moving average price is $16.60. The stock has a market cap of $20.35 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.30 and a beta of 1.14.

Gold Fields Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 14th were paid a $0.3752 dividend. This is a boost from Gold Fields’s previous semi-annual dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. This represents a dividend yield of 1.6%. Gold Fields’s dividend payout ratio is 25.96%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GFI. ABC Arbitrage SA purchased a new stake in Gold Fields in the fourth quarter valued at $1,641,000. Bank of Montreal Can increased its position in shares of Gold Fields by 36.9% during the 3rd quarter. Bank of Montreal Can now owns 263,575 shares of the company’s stock worth $4,280,000 after purchasing an additional 71,094 shares during the last quarter. Rhumbline Advisers raised its holdings in Gold Fields by 4.3% in the 4th quarter. Rhumbline Advisers now owns 17,332 shares of the company’s stock valued at $229,000 after buying an additional 720 shares during the period. Range Financial Group LLC acquired a new position in Gold Fields in the fourth quarter valued at about $770,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Gold Fields during the third quarter valued at about $9,911,000. 24.81% of the stock is currently owned by institutional investors and hedge funds.

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.