Gains May Be On The Menu For Gold Fields Limited (NYSE: GFI)

UPWK stock
UPWK stock

Invesco Advisers, Inc. recently announced the acquisition of new stake in Gold Fields Limited (NYSE:GFI). The institutional investor has increased its shareholding in the Basic Materials company by 39.66% to 12.9 million shares with purchase of 3.66 million shares. This fresh investment now brings its stake to 1.46% valued currently at $168.92 million. In addition, BlackRock Investment Management (.. raised its holdings by 8.34 million to 11.31 million shares. And AQR Capital Management LLC has lifted its position by 264.04% or 7.69 million shares – to 10.6 million shares.

With over 8.16 million Gold Fields Limited (GFI) shares trading Friday and a closing price of $13.39 on the day, the dollar volume was approximately $109.21 million. The shares have shown a positive weekly performance of 8.95% and its price on 08/28/20 gained nearly 6.86%. Currently, there are 873.85M common shares owned by the public and among those 828.74M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for GFI have a consensus price objective of $12.82. The analysts have set the share’s price value over the next 12 months at a high of $16.33 and a low of $6.85 should the stock experience a downside. Incidentally, analysts’ outlook for the Gold Fields Limited stock is 2.20 for the next 12 months. The average price target is 1.62% above its last price level and an upside to the estimated low will see the stock lose -95.47% over that period. But an upside of 18.0% will see the stock hit the forecast high price target while mean target price for the stock is $13.03.

The top 3 mutual fund holders in Gold Fields Limited are VanEck Vectors – Gold Miners ETF, VanEck Vectors – Junior Gold Mine, and DFA Dimensional Emerging Markets. VanEck Vectors – Gold Miners ETF owns 47.65 million shares of the company’s stock, all valued at over $623.76 million. The company bought an additional 0.14 million shares recently to bring their total holdings to about 5.39% of the shares outstanding. VanEck Vectors – Junior Gold Mine bought 0.44 million shares to see its total holdings expand to 33.8 million shares valued at over $442.45 million and representing 3.83% of the shares outstanding. DFA Dimensional Emerging Markets sold -0.8 million shares to bring its total holdings to over 11.82 million shares at a value of $154.7 million. DFA Dimensional Emerging Markets now owns shares totaling to 1.34% of the shares outstanding.

Shares of Gold Fields Limited (NYSE: GFI) opened at $12.86, up $0.33 from a prior closing price of $12.53. However, the script later closed the day at $13.39, up 6.86%. The company’s stock has a 5-day price change of 8.95% and 69.28% over the past three months. GFI shares are trading 102.88% year to date (YTD), with the 12-month market performance up to 128.50% higher. It has a 12-month low price of $3.79 and touched a high of $14.40 over the same period. Currently, 8.16 million shares have been traded, compared to an average intraday trading volume of 8.40 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.23%, 17.30%, and 73.39% respectively.

Institutional ownership of Gold Fields Limited (NYSE: GFI) shares accounts for 42.20% of the company’s 873.85M shares outstanding. Mutual fund holders own 12.62%, while other institutional holders and individual stakeholders account for 27.51% and — respectively.

It has a market capitalization of $11.03B and a beta (3y monthly) value of 0.64. The stock’s trailing 12-month PE ratio is 46.49, while the earnings-per-share (ttm) stands at $0.29. The company has a debt-to-equity ratio at 0.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.80% over the week and 4.83% over the month.

Analysts forecast that Gold Fields Limited (GFI) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to increase by 146.10%, and 84.84% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Gold Fields Limited (GFI) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 5 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the GFI, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on June 22, 2020, with the firm’s price target at. BofA/Merrill coverage for the Gold Fields Limited (GFI) stock in a research note released on April 21, 2020 offered a Buy rating with a price target of. RBC Capital Mkts was of a view on June 26, 2019 that the stock is Sector Perform, while JP Morgan gave the stock Neutral rating on February 21, 2019, issuing a price target of. Morgan Stanley on their part issued Underweight rating on January 31, 2019.


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