StockNews.com Upgrades Gold Fields (NYSE:GFI) to Strong-Buy

StockNews.com upgraded shares of Gold Fields (NYSE:GFI) from a buy rating to a strong-buy rating in a research note published on Sunday.

A number of other brokerages also recently weighed in on GFI. Scotiabank boosted their target price 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. JPMorgan Chase & Co. boosted their price objective on shares of Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Gold Fields currently has a consensus rating of “Moderate Buy” and an average price target of $17.20.

Gold Fields Stock Up 4.6 %

GFI stock opened at $21.92 on Friday. The company has a market cap of $19.62 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 0.30 and a beta of 1.14. Gold Fields has a twelve month low of $12.98 and a twelve month high of $22.80. The business has a 50 day moving average price of $18.97 and a two-hundred day moving average price of $16.44.

Gold Fields Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 14th were given a $0.3752 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Gold Fields’s previous semi-annual dividend of $0.17. This represents a dividend yield of 1.6%. Gold Fields’s dividend payout ratio is presently 25.96%.

Institutional Trading of Gold Fields

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cerity Partners LLC boosted its holdings in shares of Gold Fields by 131.0% during the third quarter. Cerity Partners LLC now owns 31,152 shares of the company’s stock worth $478,000 after acquiring an additional 17,664 shares during the period. Bank of Montreal Can boosted its stake in Gold Fields by 36.9% in the 3rd quarter. Bank of Montreal Can now owns 263,575 shares of the company’s stock valued at $4,280,000 after purchasing an additional 71,094 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Gold Fields in the 3rd quarter valued at $9,911,000. Bamco Inc. NY increased its position in Gold Fields by 4.8% during the 3rd quarter. Bamco Inc. NY now owns 2,018,817 shares of the company’s stock worth $30,989,000 after buying an additional 92,571 shares during the period. Finally, Centiva Capital LP bought a new position in Gold Fields during the 3rd quarter worth $521,000. Institutional investors own 24.81% of the company’s stock.

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.