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

Gold Fields Limited (NYSE:GFI) gapped up before the market opened on Thursday . The stock had previously closed at $16.59, but opened at $17.29. Gold Fields shares last traded at $17.23, with a volume of 496,827 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GFI. JPMorgan Chase & Co. upped their price objective on shares of Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, StockNews.com lowered shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.45.

Gold Fields Stock Up 4.4 %

The company has a market capitalization of $15.50 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 0.27 and a beta of 1.13. The company’s fifty day simple moving average is $14.55 and its two-hundred day simple moving average is $15.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. bought a new position in Gold Fields in the third quarter valued at $160,000. Concurrent Investment Advisors LLC increased its stake in shares of Gold Fields by 8.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 11,100 shares of the company’s stock worth $170,000 after purchasing an additional 850 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Gold Fields in the 3rd quarter valued at about $209,000. Rakuten Securities Inc. lifted its stake in Gold Fields by 90.7% in the 3rd quarter. Rakuten Securities Inc. now owns 16,562 shares of the company’s stock valued at $254,000 after purchasing an additional 7,879 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Gold Fields by 4.3% during the fourth quarter. Rhumbline Advisers now owns 17,332 shares of the company’s stock worth $229,000 after purchasing an additional 720 shares during the period. 24.81% of the stock is 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.