Gold Fields (NYSE:GFI) Stock Breaks Below 50-Day Moving Average – Here’s Why

Gold Fields Limited (NYSE:GFI)’s share price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $38.97 and traded as low as $37.86. Gold Fields shares last traded at $38.1570, with a volume of 4,031,242 shares.

Analyst Ratings Changes

Several research firms recently commented on GFI. Weiss Ratings reiterated a “buy (b-)” rating on shares of Gold Fields in a research note on Monday, August 31st. Royal Bank Of Canada raised their target price on shares of Gold Fields from $49.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. RBC Dominion Securities set a $54.00 price target on shares of Gold Fields and gave the stock an “outperform” rating in a report on Thursday, October 22nd. The Goldman Sachs Group started coverage on Gold Fields in a research report on Thursday, October 15th. They set a “neutral” rating and a $38.00 price target on the stock. Finally, Zacks Research upgraded Gold Fields from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 27th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.46.

Gold Fields Trading Down 4.7%

The company’s fifty day moving average price is $38.65 and its 200-day moving average price is $42.10.

Gold Fields Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, September 24th. Shareholders of record on Friday, September 11th were given a dividend of $1.0144 per share. This represents a yield of 450.0%. The ex-dividend date of this dividend was Friday, September 11th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its holdings in shares of Gold Fields by 11.8% in the second quarter. Allworth Financial LP now owns 2,631 shares of the company’s stock worth $88,000 after buying an additional 277 shares during the last quarter. Euro Pacific Asset Management LLC grew its holdings in shares of Gold Fields by 0.5% during the third quarter. Euro Pacific Asset Management LLC now owns 66,437 shares of the company’s stock valued at $2,400,000 after buying an additional 332 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Gold Fields by 5.2% during the third quarter. GAMMA Investing LLC now owns 6,858 shares of the company’s stock valued at $248,000 after buying an additional 337 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Gold Fields by 12.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,324 shares of the company’s stock valued at $151,000 after acquiring an additional 380 shares during the period. Finally, Cim LLC increased its position in shares of Gold Fields by 0.9% in the 1st quarter. Cim LLC now owns 60,324 shares of the company’s stock valued at $2,739,000 after acquiring an additional 523 shares during the period. Institutional investors and hedge funds own 24.81% of the company’s stock.

About Gold Fields

Gold Fields Limited is a South Africa-based gold mining company. Its business includes the exploration, development, extraction and processing of mineral resources, with gold as its primary product and copper produced at some operations. The company operates mines and projects in Australia, Ghana, Peru, South Africa and Chile. Its activities span the full mining cycle, from evaluating and developing deposits to operating mines and processing ore. Gold Fields was formed in 1998 through the combination of Gold Fields of South Africa and Gencor’s gold assets.