Gold Fields (NYSE:GFI) Sets New 52-Week High - Here's Why

Gold Fields Limited (NYSE:GFI - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.80 and last traded at $22.64, with a volume of 2029527 shares. The stock had previously closed at $20.96.

Analyst Upgrades and Downgrades

Several analysts recently commented on GFI shares. StockNews.com upgraded Gold Fields from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Scotiabank lifted their price objective on shares of Gold Fields from $18.00 to $20.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Gold Fields from $17.10 to $18.80 and gave the company a "neutral" rating in a research note on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.20.

Gold Fields Stock Performance

The company's 50 day moving average price is $19.10 and its 200-day moving average price is $16.50. The company has a market cap of $20.21 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.30 and a beta of 1.14.

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Gold Fields Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 14th were issued a $0.3752 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a dividend yield of 1.6%. This is a boost from Gold Fields's previous semi-annual dividend of $0.17. Gold Fields's dividend payout ratio is currently 25.96%.

Hedge Funds Weigh In On Gold Fields

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

Gold Fields Company Profile

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.