Gold Fields (NYSE:GFI) Shares Gap Up – Still a Buy?

Gold Fields Limited (NYSE:GFI) gapped up prior to trading 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 trading hands.

Analysts Set New Price Targets

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

Gold Fields Price Performance

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

Gold Fields Increases Dividend

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

Hedge Funds Weigh In On Gold Fields

Institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC lifted its holdings in Gold Fields by 0.5% during the 4th quarter. HighTower Advisors LLC now owns 105,174 shares of the company’s stock worth $1,388,000 after buying an additional 573 shares during the last quarter. Rhumbline Advisers raised its position in shares of 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 in the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in Gold Fields by 3.4% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 48,365 shares of the company’s stock worth $638,000 after purchasing an additional 1,583 shares during the last quarter. Signaturefd LLC boosted its holdings in Gold Fields by 19.1% in the fourth quarter. Signaturefd LLC now owns 10,304 shares of the company’s stock valued at $136,000 after purchasing an additional 1,656 shares in the last quarter. Finally, US Bancorp DE increased its stake in Gold Fields by 18.9% in the fourth quarter. US Bancorp DE now owns 11,484 shares of the company’s stock valued at $152,000 after purchasing an additional 1,829 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.