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

Shares of Gold Fields Limited (NYSE:GFI) gapped down prior to trading on Monday . The stock had previously closed at $15.24, but opened at $14.78. Gold Fields shares last traded at $14.77, with a volume of 387,016 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Scotiabank cut their target price on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. 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 objective for the company. Investec upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, StockNews.com cut shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Gold Fields currently has a consensus rating of “Hold” and an average target price of $15.93.

Gold Fields Price Performance

The firm’s 50-day simple moving average is $15.82 and its two-hundred day simple moving average is $15.59.

Institutional Inflows and Outflows

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

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.