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

Gold Fields Limited (NYSE:GFI)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $13.79, but opened at $13.37. Gold Fields shares last traded at $13.22, with a volume of 640,147 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Gold Fields from $18.00 to $17.10 and set a “neutral” rating for the company in a research report on Friday, December 6th. Bank of America started coverage on Gold Fields in a research report on Monday, September 16th. They set a “buy” rating and a $16.00 price objective for the company. StockNews.com lowered Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Investec raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.03.

Gold Fields Trading Up 1.0 %

The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.43 and a beta of 1.14. The firm has a fifty day simple moving average of $15.33 and a 200 day simple moving average of $15.33.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of Gold Fields by 3.3% in the 3rd quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock valued at $744,566,000 after buying an additional 1,549,372 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Gold Fields in the third quarter valued at about $9,911,000. Mackenzie Financial Corp raised its position in Gold Fields by 28.7% in the second quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock worth $38,878,000 after purchasing an additional 581,730 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Gold Fields by 10.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock worth $94,492,000 after purchasing an additional 580,546 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Gold Fields by 66.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,385,210 shares of the company’s stock worth $21,263,000 after purchasing an additional 551,210 shares during the period. 24.81% of the stock is currently owned by institutional investors and hedge funds.

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.