Gold Fields (GFI) Stock Rating Upgraded by Zacks Investment Research

Gold Fields (NYSE:GFI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Gold Fields Limited is one of the world’s largest unhedged gold producers with operating mines in South Africa, Ghana, and Australia. “

Several other equities analysts have also issued reports on GFI. ValuEngine upgraded Gold Fields from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. Morgan Stanley lowered Gold Fields from an “equal weight” rating to an “underweight” rating in a research note on Thursday, January 31st. JPMorgan Chase & Co. lowered Gold Fields from an “overweight” rating to a “neutral” rating and cut their target price for the company from $4.10 to $4.00 in a research note on Thursday, February 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of Gold Fields in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.75.

GFI traded down $0.13 on Thursday, hitting $3.78. The company had a trading volume of 3,859,326 shares, compared to its average volume of 5,074,871. Gold Fields has a 12-month low of $2.20 and a 12-month high of $4.45. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.50 and a quick ratio of 0.90. The firm has a market capitalization of $3.13 billion, a PE ratio of 54.00 and a beta of -1.06.

Several hedge funds have recently modified their holdings of GFI. BlackRock Inc. grew its stake in shares of Gold Fields by 269.4% during the fourth quarter. BlackRock Inc. now owns 26,944,706 shares of the company’s stock worth $94,846,000 after acquiring an additional 19,651,290 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Gold Fields by 776.8% during the third quarter. AQR Capital Management LLC now owns 6,401,754 shares of the company’s stock worth $15,492,000 after acquiring an additional 5,671,640 shares during the last quarter. Millennium Management LLC grew its stake in shares of Gold Fields by 337.7% during the fourth quarter. Millennium Management LLC now owns 5,316,097 shares of the company’s stock worth $18,713,000 after acquiring an additional 4,101,461 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Gold Fields by 349.4% during the fourth quarter. Deutsche Bank AG now owns 5,173,316 shares of the company’s stock worth $18,209,000 after acquiring an additional 4,022,128 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Gold Fields by 78.9% during the third quarter. Morgan Stanley now owns 7,546,068 shares of the company’s stock worth $18,262,000 after acquiring an additional 3,327,118 shares during the last quarter. Institutional investors and hedge funds own 41.93% of the company’s stock.

Gold Fields Company Profile

Gold Fields Limited produces gold and holds gold reserves and resources in South Africa, Ghana, Australia, and Peru. The company engages in underground and surface gold and surface copper mining and related activities, including exploration, extraction, processing, and smelting. It holds interests in seven 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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