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

Gold Fields Limited (NYSE:GFI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $34.11, but opened at $36.92. Gold Fields shares last traded at $36.86, with a volume of 1,007,546 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Gold Fields from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Wall Street Zen raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Canaccord Genuity Group upgraded Gold Fields from a “hold” rating to a “buy” rating and raised their target price for the stock from $40.25 to $57.25 in a research note on Friday, April 24th. Weiss Ratings cut Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Finally, Zacks Research downgraded Gold Fields from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Gold Fields presently has an average rating of “Hold” and a consensus price target of $47.75.

Gold Fields Trading Up 10.4%

The firm’s fifty day moving average price is $34.93 and its 200 day moving average price is $43.70. The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On Gold Fields

Hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in Gold Fields during the 1st quarter worth about $25,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Gold Fields by 47.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock valued at $36,000 after buying an additional 273 shares during the period. Bayforest Capital Ltd lifted its holdings in shares of Gold Fields by 1,106.7% in the 4th quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock valued at $47,000 after buying an additional 996 shares during the period. Arax Advisory Partners lifted its holdings in shares of Gold Fields by 352.6% in the 4th quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock valued at $50,000 after buying an additional 885 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Gold Fields by 2,152.0% in the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company’s stock worth $50,000 after buying an additional 2,152 shares during the last quarter. 24.81% of the stock is owned by hedge funds and other institutional investors.

About Gold Fields

Gold Fields (NYSE: GFI) is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company’s core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.