Gold Fields (NYSE:GFI) Shares Gap Down – Should You Sell?

Gold Fields Limited (NYSE:GFI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $35.49, but opened at $33.60. Gold Fields shares last traded at $33.9540, with a volume of 1,170,709 shares.

Analyst Ratings Changes

Several research firms have issued reports on GFI. Scotiabank dropped their price target on Gold Fields from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, March 20th. Weiss Ratings cut Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Canaccord Genuity Group raised Gold Fields from a “hold” rating to a “buy” rating and upped their price target for the company from $40.25 to $57.25 in a report on Friday, April 24th. Zacks Research raised Gold Fields from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Wall Street Zen cut Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Monday, April 27th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.75.

Gold Fields Trading Up 7.2%

The company has a fifty day simple moving average of $43.15 and a 200-day simple moving average of $46.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.79 and a quick ratio of 1.33.

Institutional Trading of Gold Fields

Several hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp grew its holdings in shares of Gold Fields by 3.4% during the fourth quarter. Van ECK Associates Corp now owns 35,483,903 shares of the company’s stock valued at $1,549,227,000 after buying an additional 1,180,634 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Gold Fields by 39.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,085,653 shares of the company’s stock valued at $265,700,000 after buying an additional 1,714,442 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Gold Fields by 69.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,384,047 shares of the company’s stock valued at $191,407,000 after buying an additional 1,794,124 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Gold Fields by 24.3% during the third quarter. American Century Companies Inc. now owns 4,136,901 shares of the company’s stock valued at $173,584,000 after buying an additional 809,816 shares in the last quarter. Finally, Man Group plc grew its holdings in shares of Gold Fields by 63.7% during the fourth quarter. Man Group plc now owns 3,650,799 shares of the company’s stock valued at $159,394,000 after buying an additional 1,421,121 shares in the last quarter. Institutional investors and hedge funds own 24.81% of the company’s stock.

Gold Fields Company Profile

Gold Fields (NYSE: GFI) is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company’s core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.