Gold Fields (NYSE:GFI) Shares Gap Down – Should You Sell?

Gold Fields Limited (NYSE:GFI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $38.60, but opened at $34.85. Gold Fields shares last traded at $34.9020, with a volume of 1,461,993 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 27th. Canaccord Genuity Group upgraded Gold Fields from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.25 to $57.25 in a research report on Friday, April 24th. Weiss Ratings cut shares of Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Zacks Research raised shares of Gold Fields from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Scotiabank dropped their price objective on shares of Gold Fields from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, March 20th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.75.

Gold Fields Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.33 and a current ratio of 1.79. The stock has a 50 day simple moving average of $42.08 and a 200 day simple moving average of $46.28.

Institutional Investors Weigh In On Gold Fields

A number of large investors have recently bought and sold shares of GFI. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Gold Fields by 43.7% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 245,035 shares of the company’s stock valued at $10,698,000 after buying an additional 74,539 shares during the last quarter. Dorsey Wright & Associates bought a new position in shares of Gold Fields during the third quarter worth about $2,758,000. American Century Companies Inc. raised its position in shares of Gold Fields by 24.3% during the third quarter. American Century Companies Inc. now owns 4,136,901 shares of the company’s stock worth $173,584,000 after acquiring an additional 809,816 shares during the last quarter. Causeway Capital Management LLC lifted its stake in shares of Gold Fields by 14.0% in the third quarter. Causeway Capital Management LLC now owns 1,543,015 shares of the company’s stock worth $64,745,000 after acquiring an additional 189,362 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Gold Fields by 1.6% in the third quarter. Van ECK Associates Corp now owns 34,303,269 shares of the company’s stock worth $1,439,365,000 after acquiring an additional 539,923 shares during the period. 24.81% of the stock is currently owned by institutional investors and hedge funds.

About Gold Fields

Gold Fields (NYSE: GFI) is a Johannesburg?based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company’s core activities include mine development and underground and open?pit mining, ore treatment and refining, and ongoing exploration to replace reserves.