Gold Fields (NYSE:GFI) Shares Gap Up – Should You Buy?

Shares of Gold Fields Limited (NYSE:GFI) gapped up prior to trading on Monday . The stock had previously closed at $18.70, but opened at $19.23. Gold Fields shares last traded at $18.91, with a volume of 1,264,715 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GFI shares. Scotiabank lifted their price target on Gold Fields from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.20.

Gold Fields Trading Down 3.5 %

The company’s fifty day moving average is $16.12 and its two-hundred day moving average is $15.55. The stock has a market cap of $16.23 billion, a price-to-earnings ratio of 7.71, a P/E/G ratio of 0.30 and a beta of 1.15.

Institutional Investors Weigh In On Gold Fields

Institutional investors and hedge funds have recently modified their holdings of the company. ABC Arbitrage SA acquired a new position in Gold Fields in the 4th quarter valued at about $1,641,000. Bank of Montreal Can grew its holdings in shares of Gold Fields by 36.9% in the third quarter. Bank of Montreal Can now owns 263,575 shares of the company’s stock valued at $4,280,000 after purchasing an additional 71,094 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Gold Fields in the third quarter valued at approximately $1,052,000. Massachusetts Financial Services Co. MA increased its stake in Gold Fields by 10.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock worth $94,492,000 after buying an additional 580,546 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Gold Fields during the 3rd quarter worth approximately $10,600,000. Hedge funds and other institutional investors 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.