Short Interest in Gold Fields Limited (NYSE:GFI) Decreases By 7.8%

Gold Fields Limited (NYSE:GFI) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 8,160,000 shares, a drop of 7.8% from the October 31st total of 8,850,000 shares. Based on an average trading volume of 2,930,000 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its stake in shares of Gold Fields by 3.3% during the third quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock worth $744,566,000 after purchasing an additional 1,549,372 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Gold Fields during the third quarter worth about $9,911,000. Mackenzie Financial Corp boosted its position in shares of Gold Fields by 28.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock valued at $38,878,000 after purchasing an additional 581,730 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Gold Fields by 10.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock worth $94,492,000 after buying an additional 580,546 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Gold Fields by 66.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,385,210 shares of the company’s stock valued at $21,263,000 after buying an additional 551,210 shares during the last quarter. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GFI shares. Bank of America started coverage on shares of Gold Fields in a research note on Monday, September 16th. They issued a “buy” rating and a $16.00 price target on the stock. Scotiabank lowered their price target on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Investec upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com cut Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Four 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 currently has a consensus rating of “Hold” and an average target price of $15.93.

Gold Fields Price Performance

NYSE:GFI traded down $0.24 on Wednesday, reaching $14.26. The company’s stock had a trading volume of 1,183,160 shares, compared to its average volume of 3,598,907. Gold Fields has a 12-month low of $12.19 and a 12-month high of $18.97. The stock has a 50 day moving average price of $15.76 and a 200 day moving average price of $15.52.

Gold Fields Company Profile

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.