Gold Fields (NYSE:GFI) Shares Gap Down - Here's What Happened

Gold Fields Limited (NYSE:GFI - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $18.91, but opened at $18.04. Gold Fields shares last traded at $18.15, with a volume of 400,679 shares.

Wall Street Analysts Forecast Growth

Several research firms have commented on GFI. JPMorgan Chase & Co. lowered their target price on shares of Gold Fields from $17.50 to $16.70 and set a "neutral" rating for the company in a research note on Wednesday, July 3rd. Bank of America initiated coverage on shares of Gold Fields in a research note on Monday, September 16th. They set a "buy" rating and a $16.00 price objective on the stock. StockNews.com cut Gold Fields from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 18th. Scotiabank cut their price objective on Gold Fields from $18.00 to $17.00 and set a "sector perform" rating on the stock in a research note on Monday, August 26th. Finally, Investec upgraded Gold Fields from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $15.93.

Gold Fields Stock Down 5.1 %

The firm has a market capitalization of $16.07 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. The business's 50-day moving average price is $15.31 and its 200-day moving average price is $15.84.

Gold Fields Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were given a dividend of $0.1692 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 2.2%. Gold Fields's payout ratio is currently 14.14%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Gold Fields by 78.4% in the first quarter. GAMMA Investing LLC now owns 3,098 shares of the company's stock worth $49,000 after acquiring an additional 1,361 shares during the last quarter. LGT Fund Management Co Ltd. acquired a new stake in Gold Fields during the second quarter worth $149,000. Concurrent Investment Advisors LLC bought a new position in shares of Gold Fields during the 2nd quarter worth about $153,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Gold Fields by 10.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company's stock valued at $172,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Candriam S.C.A. bought a new stake in Gold Fields in the second quarter valued at about $189,000. 26.02% 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.