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

Gold Fields Limited (NYSE:GFI)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $15.24, but opened at $14.78. Gold Fields shares last traded at $14.77, with a volume of 387,016 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GFI shares. Investec raised shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Bank of America began coverage on Gold Fields in a research note on Monday, September 16th. They issued a “buy” rating and a $16.00 price objective on the stock. StockNews.com lowered Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Scotiabank reduced their price objective on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.93.

Gold Fields Price Performance

The stock has a 50-day moving average of $15.81 and a two-hundred day moving average of $15.62.

Institutional Investors Weigh In On Gold Fields

Hedge funds have recently made changes to their positions in the company. LGT Fund Management Co Ltd. purchased a new position in Gold Fields during the 2nd quarter valued at about $149,000. Concurrent Investment Advisors LLC acquired a new position in Gold Fields in the 2nd quarter valued at approximately $153,000. QRG Capital Management Inc. purchased a new stake in Gold Fields in the 3rd quarter worth approximately $160,000. Hennion & Walsh Asset Management Inc. boosted its stake 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 buying an additional 1,090 shares during the period. Finally, Candriam S.C.A. purchased a new position in shares of Gold Fields during the 2nd quarter valued at $189,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

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.