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

Gold Fields Limited (NYSE:GFI) declared a semi-annual dividend on Monday, March 3rd, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.3752 per share on Thursday, March 27th. This represents a dividend 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 raised its dividend payment by an average of 2.4% annually over the last three years. Gold Fields has a dividend payout ratio of 32.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Gold Fields to earn $2.18 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 34.4%.

Gold Fields Stock Down 2.4 %

Gold Fields stock traded down $0.50 during trading on Wednesday, hitting $20.03. The stock had a trading volume of 906,334 shares, compared to its average volume of 2,996,474. The stock’s 50 day moving average is $17.27 and its two-hundred day moving average is $15.78. Gold Fields has a 1 year low of $12.98 and a 1 year high of $20.63. The stock has a market cap of $17.93 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 0.30 and a beta of 1.14.

Wall Street Analysts Forecast Growth

GFI has been the topic of a number of research reports. 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 research note on Wednesday, January 15th. StockNews.com lowered shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 6th. Finally, Scotiabank raised their price objective on shares of Gold Fields from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 25th. 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, Gold Fields currently has a consensus rating of “Hold” and a consensus target price of $17.20.

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.