Gold Fields Stock Downgraded by StockNews.com

Gold Fields (NYSE:GFI) has recently been downgraded by analysts at StockNews.com, who changed their rating from "strong-buy" to a "buy" in a report published on Friday.

Other financial analysts have also provided insights regarding Gold Fields in recent weeks. On September 16th, Bank of America initiated coverage on the company, assigning it a "buy" rating and setting a price target of $16.00. Meanwhile, on June 26th, BMO Capital Markets upgraded Gold Fields from an "underperform" rating to a "market perform" rating, adjusting their price target from $13.50 to $14.00.

Additionally, JPMorgan Chase & Co. lowered their price target for Gold Fields from $17.50 to $16.70, maintaining a "neutral" rating in their report dated July 3rd. Scotiabank also adjusted its price target for the company, decreasing it from $18.00 to $17.00 and keeping a "sector perform" rating in their August 26th analysis. On the other hand, Investec recently raised their rating from "hold" to "buy" on the same day as StockNews.com’s downgrade.

In summary, opinions on Gold Fields vary, with one analyst giving the stock a "sell" rating, four assigning a "hold" rating, and three analysts offering a "buy" rating. According to data from MarketBeat.com, the consensus rating for Gold Fields stock currently stands at "Hold," with an average price target of $15.93.

Gold Fields Stock Performance

Gold Fields shares traded up by $0.78 on Friday, bringing their price to $18.02. The trading volume for the stock was 3,437,747 shares, relatively close to its average volume of 3,712,256. The stock has recorded a fifty-day simple moving average of $15.17, and a two-hundred day simple moving average of $15.83. Over the past twelve months, Gold Fields has seen a low of $12.19 and a high of $18.97, with the company holding a market capitalization of $16.13 billion. The company’s price-to-earnings (PE) ratio stands at 9.43, while the price-to-earnings growth (PEG) ratio is 0.52 and its beta is 1.18.

Institutional Investment Activity

Recent changes by institutional investors and hedge funds have also impacted Gold Fields stock. For instance, GAMMA Investing LLC increased its stake in Gold Fields by 78.4% in the first quarter and now holds 3,098 shares valued at $49,000 after purchasing an additional 1,361 shares. LGT Fund Management Co Ltd. acquired a new stake in Gold Fields worth $149,000 during the second quarter. Likewise, Concurrent Investment Advisors LLC purchased a new position valued at $153,000 during the same period. Hennion & Walsh Asset Management Inc. raised their holdings in Gold Fields by 10.4% in the second quarter, increasing their total shares to 11,538 with a worth of $172,000 after acquiring an additional 1,090 shares. Lastly, Candriam S.C.A. made a new investment in Gold Fields during the second quarter valued at around $189,000. Overall, institutional investors currently own 26.02% of Gold Fields stock.

About Gold Fields Limited

Gold Fields Limited operates as a gold producer and has reserves and resources located in various countries including Chile, South Africa, Ghana, Canada, Australia, and Peru. Apart from gold, the company also engages in exploring copper and silver deposits. Established in 1887, Gold Fields is headquartered in Sandton, South Africa.

Gold, Stock, Rating