Rakuten Securities Inc. Increases Holdings in Gold Fields Limited (NYSE:GFI)

Rakuten Securities Inc. grew its holdings in Gold Fields Limited (NYSE:GFI) by 90.7% during the third quarter, HoldingsChannel reports. The fund owned 16,562 shares of the company’s stock after purchasing an additional 7,879 shares during the period. Rakuten Securities Inc.’s holdings in Gold Fields were worth $254,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GFI. LGT Fund Management Co Ltd. acquired a new position in Gold Fields in the second quarter valued at approximately $149,000. Concurrent Investment Advisors LLC acquired a new position in shares of Gold Fields in the 2nd quarter valued at $153,000. QRG Capital Management Inc. purchased a new position in shares of Gold Fields in the 3rd quarter valued at $160,000. Hennion & Walsh Asset Management Inc. raised its stake in Gold Fields by 10.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock worth $172,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Candriam S.C.A. purchased a new stake in Gold Fields in the second quarter valued at $189,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GFI shares. Scotiabank dropped their price objective on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. StockNews.com downgraded Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Investec raised Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, Bank of America began coverage on shares of Gold Fields in a research report on Monday, September 16th. They issued a “buy” rating and a $16.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Gold Fields has an average rating of “Hold” and a consensus price target of $15.93.

Gold Fields Price Performance

NYSE:GFI opened at $14.47 on Tuesday. Gold Fields Limited has a 12-month low of $12.19 and a 12-month high of $18.97. The stock’s 50 day simple moving average is $15.66 and its 200-day simple moving average is $15.77.

Gold Fields Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were paid a $0.1692 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 2.2%.

Gold Fields Company Profile

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.