Gold Fields Limited (NYSE:GFI – Get Free Report) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 7,220,000 shares, a growth of 7.4% from the August 15th total of 6,720,000 shares. Based on an average daily volume of 4,610,000 shares, the days-to-cover ratio is currently 1.6 days.
Hedge Funds Weigh In On Gold Fields
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in Gold Fields by 7.5% in the second quarter. SG Americas Securities LLC now owns 314,483 shares of the company’s stock valued at $4,349,000 after buying an additional 22,068 shares during the last quarter. American Century Companies Inc. boosted its position in Gold Fields by 48.6% in the fourth quarter. American Century Companies Inc. now owns 3,091,029 shares of the company’s stock valued at $31,992,000 after buying an additional 1,010,805 shares during the last quarter. National Bank of Canada FI boosted its position in Gold Fields by 20.7% in the first quarter. National Bank of Canada FI now owns 1,839,768 shares of the company’s stock valued at $24,506,000 after buying an additional 315,622 shares during the last quarter. Range Financial Group LLC purchased a new stake in Gold Fields in the first quarter valued at approximately $1,604,000. Finally, FNY Investment Advisers LLC boosted its position in Gold Fields by 411.6% in the second quarter. FNY Investment Advisers LLC now owns 75,857 shares of the company’s stock valued at $1,049,000 after buying an additional 61,029 shares during the last quarter. Institutional investors and hedge funds own 20.99% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on GFI. StockNews.com upgraded shares of Gold Fields from a “hold” rating to a “strong-buy” rating in a report on Friday, August 25th. Scotiabank reduced their target price on shares of Gold Fields from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Gold Fields presently has an average rating of “Hold” and an average price target of $13.75.
Gold Fields Trading Down 1.8 %
Shares of GFI traded down $0.22 during mid-day trading on Tuesday, hitting $12.09. 441,578 shares of the company traded hands, compared to its average volume of 5,187,810. Gold Fields has a 1-year low of $7.03 and a 1-year high of $17.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.33 and a current ratio of 1.12. The business has a 50 day moving average of $13.41 and a 200 day moving average of $13.91.
Gold Fields Cuts Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, September 8th will be issued a dividend of $0.1711 per share. The ex-dividend date is Thursday, September 7th. This represents a dividend yield of 4%.
About Gold Fields
Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, West Africa, Australia, and Peru. The company also explores for copper deposits. It holds interests in nine operating mines, as well as gold mineral reserves and mineral resources. The company was founded in 1887 and is based in Sandton, South Africa.
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