Scotiabank Cuts Gold Fields (NYSE:GFI) Price Target to $17.00

Gold Fields (NYSE:GFI) had its target price trimmed by Scotiabank from $18.00 to $17.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets raised Gold Fields from an underperform rating to a market perform rating and increased their price objective for the stock from $13.50 to $14.00 in a research note on Wednesday, June 26th. StockNews.com raised Gold Fields from a hold rating to a buy rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Gold Fields from $17.50 to $16.70 and set a neutral rating on the stock in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gold Fields currently has a consensus rating of Hold and an average target price of $15.90.

Gold Fields Trading Down 1.9 %

GFI opened at $14.07 on Monday. Gold Fields has a one year low of $10.31 and a one year high of $18.97. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 6.93 and a beta of 1.16. The stock’s 50 day moving average price is $15.82 and its 200-day moving average price is $15.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.70 and a current ratio of 1.25.

Gold Fields Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.1692 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a yield of 2.2%. Gold Fields’s dividend payout ratio is currently 17.24%.

Institutional Trading of Gold Fields

A number of hedge funds have recently bought and sold shares of GFI. International Assets Investment Management LLC purchased a new stake in Gold Fields during the fourth quarter worth $1,443,000. Cerity Partners LLC purchased a new stake in shares of Gold Fields during the 4th quarter valued at $149,000. GAMMA Investing LLC purchased a new stake in shares of Gold Fields during the 4th quarter valued at $26,000. Russell Investments Group Ltd. lifted its holdings in shares of Gold Fields by 11.0% during the 4th quarter. Russell Investments Group Ltd. now owns 1,808,159 shares of the company’s stock valued at $26,146,000 after purchasing an additional 178,688 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Gold Fields by 5.9% during the 4th quarter. Victory Capital Management Inc. now owns 2,187,779 shares of the company’s stock valued at $31,635,000 after purchasing an additional 121,765 shares during the last quarter. Hedge funds and other institutional investors own 26.02% of the company’s stock.

About Gold Fields

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.