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Black Rock raises its holding in Gold Fields by 50% - Riverton Roll

Tuesday, 19 November 2019

BlackRock Inc. raised its stake in shares of Gold Fields Limited (NYSE:GFI) by 49.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 46,738,087 shares of the company’s stock after purchasing an additional 15,477,875 shares during the period. BlackRock Inc. owned approximately 5.70% of Gold Fields worth $252,853,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Claro Advisors LLC acquired a new position in Gold Fields during the 2nd quarter valued at about $62,000. Cresset Asset Management LLC acquired a new position in Gold Fields during the 2nd quarter valued at about $65,000. Commonwealth Equity Services LLC acquired a new position in Gold Fields during the 2nd quarter valued at about $76,000. Niemann Capital Management Inc. acquired a new position in Gold Fields during the 2nd quarter valued at about $77,000. Finally, We Are One Seven LLC boosted its stake in Gold Fields by 41.2% during the 2nd quarter. We Are One Seven LLC now owns 15,692 shares of the company’s stock valued at $84,000 after purchasing an additional 4,577 shares during the last quarter. Institutional investors and hedge funds own 44.17% of the company’s stock.

GFI stock opened at $5.35 on Monday. The company has a market capitalization of $4.52 billion, a P/E ratio of 76.43 and a beta of -1.06. Gold Fields Limited has a 52-week low of $2.89 and a 52-week high of $6.29. The business has a 50-day simple moving average of $5.49 and a two-hundred day simple moving average of $5.15.

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Gold Fields from $6.20 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, September 12th. Zacks Investment Research downgraded Gold Fields from a "hold" rating to a "sell" rating in a research note on Friday. ValuEngine downgraded Gold Fields from a "hold" rating to a "sell" rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reiterated a "sector perform" rating on shares of Gold Fields in a research note on Friday, August 16th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Gold Fields has a consensus rating of "Hold" and an average target price of $4.64.

About Gold Fields

Gold Fields Limited operates as a gold producer with reserves and resources in South Africa, Ghana, Australia, and Peru. It holds interests in 7 operating mines with an annual gold-equivalent production of approximately 2.2 million ounces, as well as gold mineral reserves of approximately 49 million ounces and mineral resources of approximately 104 million ounces.


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