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

Gold Fields Limited (NYSE:GFI) gapped up prior to trading on Friday . The stock had previously closed at $14.38, but opened at $15.24. Gold Fields shares last traded at $15.02, with a volume of 931,422 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GFI shares. Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. StockNews.com downgraded shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lowered their target price on shares of Gold Fields from $18.00 to $17.10 and set a “neutral” rating for the company in a research note on Friday, December 6th. Finally, Bank of America began coverage on Gold Fields in a research note on Monday, September 16th. They set a “buy” rating and a $16.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Gold Fields presently has a consensus rating of “Hold” and a consensus target price of $16.03.

Gold Fields Price Performance

The firm’s 50-day moving average price is $14.38 and its 200-day moving average price is $15.24. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 0.43 and a beta of 1.13.

Institutional Investors Weigh In On Gold Fields

Large investors have recently modified their holdings of the stock. Candriam S.C.A. acquired a new stake in shares of Gold Fields in the 2nd quarter valued at about $189,000. DekaBank Deutsche Girozentrale raised its stake in Gold Fields by 8.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 119,470 shares of the company’s stock valued at $1,818,000 after buying an additional 9,470 shares in the last quarter. Capital Wealth Planning LLC bought a new position in Gold Fields during the 2nd quarter worth approximately $2,390,000. Sierra Summit Advisors LLC lifted its holdings in Gold Fields by 8.6% during the 2nd quarter. Sierra Summit Advisors LLC now owns 23,380 shares of the company’s stock worth $348,000 after buying an additional 1,857 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Gold Fields by 13.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,319 shares of the company’s stock valued at $318,000 after acquiring an additional 2,480 shares during the last quarter. Institutional investors and hedge funds 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.