Gold Fields (NYSE:GFI) Stock Price Down 2.8% - Here's What Happened

Gold Fields Limited (NYSE:GFI - Get Free Report)'s stock price fell 2.8% during trading on Tuesday . The company traded as low as $23.33 and last traded at $23.43. 4,085,295 shares changed hands during trading, an increase of 11% from the average session volume of 3,665,485 shares. The stock had previously closed at $24.10.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GFI. HSBC reissued a "hold" rating and issued a $21.00 target price on shares of Gold Fields in a research note on Thursday, April 17th. JPMorgan Chase & Co. upped their price objective on Gold Fields from $17.10 to $18.80 and gave the company a "neutral" rating in a research note on Wednesday, January 15th. StockNews.com downgraded Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 18th. Hsbc Global Res upgraded Gold Fields to a "hold" rating in a research report on Thursday, April 17th. Finally, Scotiabank lifted their price objective on Gold Fields from $20.00 to $23.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Gold Fields has an average rating of "Hold" and an average price target of $18.56.

Gold Fields Stock Performance

The stock has a market cap of $19.43 billion, a P/E ratio of 9.24, a P/E/G ratio of 0.30 and a beta of 0.92. The company has a 50-day simple moving average of $21.07 and a 200-day simple moving average of $17.48.

Gold Fields Increases Dividend

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

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GFI. ABC Arbitrage SA bought a new stake in shares of Gold Fields during the fourth quarter valued at approximately $1,641,000. Raymond James Financial Inc. acquired a new stake in shares of Gold Fields in the 4th quarter valued at $362,000. Rhumbline Advisers increased its stake in shares of Gold Fields by 4.3% in the 4th quarter. Rhumbline Advisers now owns 17,332 shares of the company's stock valued at $229,000 after buying an additional 720 shares during the period. Range Financial Group LLC bought a new stake in shares of Gold Fields during the fourth quarter worth $770,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Gold Fields by 8.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,507,457 shares of the company's stock valued at $21,194,000 after acquiring an additional 122,247 shares during the period. Institutional investors and hedge funds 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.