Advisors Asset Management Inc. Decreases Position in Gold Fields Limited (NYSE:GFI)

Advisors Asset Management Inc. trimmed its holdings in Gold Fields Limited (NYSE:GFI) by 21.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,008 shares of the company’s stock after selling 23,162 shares during the quarter. Advisors Asset Management Inc.’s holdings in Gold Fields were worth $1,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GFI. LGT Fund Management Co Ltd. acquired a new position in shares of Gold Fields in the 2nd quarter valued at $149,000. Concurrent Investment Advisors LLC acquired a new position in Gold Fields in the second quarter valued at $153,000. QRG Capital Management Inc. acquired a new position in Gold Fields in the third quarter valued at $160,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Gold Fields by 10.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock worth $172,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Candriam S.C.A. acquired a new stake in shares of Gold Fields during the second quarter worth about $189,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GFI. Scotiabank dropped their price target 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. Bank of America initiated coverage on shares of Gold Fields in a research report on Monday, September 16th. They set a “buy” rating and a $16.00 target price on the stock. Investec upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, StockNews.com downgraded shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.93.

Gold Fields Stock Performance

Gold Fields stock opened at $14.73 on Tuesday. The business has a 50 day simple moving average of $15.81 and a 200-day simple moving average of $15.60. Gold Fields Limited has a 12 month low of $12.19 and a 12 month high of $18.97.

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.