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

Gold Fields Limited (NYSE:GFIGet Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $14.38, but opened at $15.24. Gold Fields shares last traded at $15.02, with a volume of 931,422 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Bank of America started coverage on shares of Gold Fields in a research report on Monday, September 16th. They issued a “buy” rating and a $16.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Gold Fields from $18.00 to $17.10 and set a “neutral” rating on the stock in a research report on Friday, December 6th. StockNews.com downgraded Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Four investment 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 company currently has a consensus rating of “Hold” and a consensus price target of $16.03.

Get Our Latest Report on GFI

Gold Fields Stock Up 4.3 %

The company has a market cap of $13.43 billion, a P/E ratio of 7.11, a PEG ratio of 0.43 and a beta of 1.13. The company has a 50 day moving average price of $14.38 and a 200-day moving average price of $15.24.

Hedge Funds Weigh In On Gold Fields

A number of institutional investors and hedge funds have recently bought and sold shares of GFI. QRG Capital Management Inc. bought a new position in shares of Gold Fields during the 3rd quarter valued at about $160,000. Concurrent Investment Advisors LLC boosted 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 acquiring an additional 850 shares in the last quarter. Candriam S.C.A. acquired a new position in shares of Gold Fields in the 2nd quarter worth $189,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Gold Fields during the third quarter worth $209,000. Finally, MQS Management LLC purchased a new stake in shares of Gold Fields during the second quarter valued at $225,000. Institutional investors own 24.81% of the company’s stock.

About Gold Fields

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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.

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