Gold Fields (NYSE:GFI) Shares Gap Down – What’s Next?

Gold Fields Limited (NYSE:GFI) gapped down before the market opened on Monday . The stock had previously closed at $13.79, but opened at $13.37. Gold Fields shares last traded at $13.22, with a volume of 640,147 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Investec raised shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, October 18th. StockNews.com cut shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Bank of America initiated coverage on shares of Gold Fields in a report on Monday, September 16th. They set a “buy” rating and a $16.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their target price on Gold Fields from $18.00 to $17.10 and set a “neutral” rating on the stock in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.03.

Gold Fields Stock Performance

The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.43 and a beta of 1.14. The firm’s 50-day simple moving average is $15.33 and its two-hundred day simple moving average is $15.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GFI. TrueMark Investments LLC acquired a new stake in shares of Gold Fields in the 2nd quarter valued at $417,000. Concurrent Investment Advisors LLC bought a new stake in Gold Fields during the 2nd quarter worth about $153,000. Ritholtz Wealth Management raised its holdings in Gold Fields by 14.5% during the 2nd quarter. Ritholtz Wealth Management now owns 37,935 shares of the company’s stock worth $565,000 after purchasing an additional 4,800 shares during the last quarter. RWC Asset Management LLP lifted its position in Gold Fields by 10.0% during the 2nd quarter. RWC Asset Management LLP now owns 3,588,984 shares of the company’s stock valued at $53,476,000 after purchasing an additional 324,885 shares during the period. Finally, Range Financial Group LLC bought a new position in shares of Gold Fields in the 2nd quarter valued at about $1,243,000. 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.