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

Shares of Gold Fields Limited (NYSE:GFI) gapped up prior to trading on Tuesday . The stock had previously closed at $18.41, but opened at $18.85. Gold Fields shares last traded at $18.54, with a volume of 653,431 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on GFI. StockNews.com upgraded shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 21st. Scotiabank increased their target price on Gold Fields from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of Gold Fields from $17.10 to $18.80 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Gold Fields Stock Performance

The stock’s 50-day moving average price is $16.51 and its two-hundred day moving average price is $15.64. The stock has a market capitalization of $16.95 billion, a PE ratio of 8.06, a P/E/G ratio of 0.30 and a beta of 1.15.

Hedge Funds Weigh In On Gold Fields

Large investors have recently made changes to their positions in the business. Integrated Advisors Network LLC bought a new stake in Gold Fields in the fourth quarter worth $331,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in Gold Fields in the fourth quarter worth about $570,000. Public Employees Retirement System of Ohio bought a new position in shares of Gold Fields in the fourth quarter worth approximately $139,000. Two Sigma Investments LP grew its holdings in shares of Gold Fields by 61.1% during the fourth quarter. Two Sigma Investments LP now owns 64,256 shares of the company’s stock valued at $848,000 after buying an additional 24,365 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC purchased a new position in Gold Fields in the 4th quarter worth approximately $9,033,000. 24.81% of the stock is currently owned by hedge funds and other institutional investors.

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.