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

Gold Fields Limited (NYSE:GFI)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $43.60, but opened at $45.24. Gold Fields shares last traded at $44.31, with a volume of 756,933 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Zacks Research upgraded Gold Fields from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Wall Street Zen lowered shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. HSBC reaffirmed a “hold” rating on shares of Gold Fields in a research report on Thursday, October 9th. Canaccord Genuity Group lowered Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 target price for the company. in a report on Monday, October 13th. Finally, Royal Bank Of Canada cut their target price on shares of Gold Fields to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.13.

Gold Fields Stock Performance

The business has a fifty day simple moving average of $41.56 and a two-hundred day simple moving average of $35.29.

Hedge Funds Weigh In On Gold Fields

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its position in Gold Fields by 1.6% in the third quarter. Van ECK Associates Corp now owns 34,303,269 shares of the company’s stock worth $1,439,365,000 after purchasing an additional 539,923 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Gold Fields by 84.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company’s stock worth $131,350,000 after purchasing an additional 2,545,579 shares in the last quarter. Invesco Ltd. increased its position in shares of Gold Fields by 32.9% in the 2nd quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock valued at $116,443,000 after buying an additional 1,217,594 shares in the last quarter. DJE Kapital AG raised its stake in Gold Fields by 19.7% during the 2nd quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock worth $105,260,000 after buying an additional 742,174 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in Gold Fields by 32.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,371,211 shares of the company’s stock valued at $183,416,000 after acquiring an additional 1,062,242 shares during the period. 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.