Gold Fields Limited (NYSE:GFI) Raises Dividend to $0.38 Per Share

Gold Fields Limited (NYSE:GFI) announced a semi-annual dividend on Monday, March 3rd, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.3752 per share on Thursday, March 27th. This represents a yield of 1.6%. The ex-dividend date of this dividend is Friday, March 14th. This is a 121.8% increase from Gold Fields’s previous semi-annual dividend of $0.17.

Gold Fields has increased its dividend by an average of 2.4% annually over the last three years. Gold Fields has a dividend payout ratio of 14.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gold Fields to earn $2.18 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 15.6%.

Gold Fields Stock Performance

Shares of GFI stock traded up $0.45 during mid-day trading on Wednesday, reaching $19.47. 2,798,268 shares of the company were exchanged, compared to its average volume of 2,982,024. The business’s 50 day simple moving average is $16.62 and its 200 day simple moving average is $15.65. The company has a market capitalization of $17.43 billion, a P/E ratio of 8.29, a P/E/G ratio of 0.30 and a beta of 1.14. Gold Fields has a fifty-two week low of $12.98 and a fifty-two week high of $19.80.

Analyst Ratings Changes

GFI has been the subject of several research analyst reports. Scotiabank boosted their target price on shares of Gold Fields from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price objective on Gold Fields from $17.10 to $18.80 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Finally, StockNews.com raised Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Gold Fields currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

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.