Gold Fields (NYSE:GFI) Raised to “Strong-Buy” at Wall Street Zen

Gold Fields (NYSE:GFI) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other equities analysts have also issued reports on the company. BMO Capital Markets increased their price objective on Gold Fields from $24.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, August 25th. Zacks Research raised Gold Fields from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Citigroup initiated coverage on Gold Fields in a research report on Tuesday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. Scotiabank lifted their price objective on Gold Fields from $30.00 to $47.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Gold Fields in a research note on Thursday, October 23rd. They issued an “overweight” rating and a $62.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Gold Fields has an average rating of “Moderate Buy” and a consensus target price of $40.43.

Gold Fields Trading Up 6.3%

Shares of NYSE GFI traded up $2.45 during midday trading on Friday, hitting $41.43. The company’s stock had a trading volume of 1,119,694 shares, compared to its average volume of 3,493,956. Gold Fields has a 1-year low of $12.98 and a 1-year high of $47.18. The firm’s fifty day moving average price is $39.50 and its 200-day moving average price is $30.21.

Hedge Funds Weigh In On Gold Fields

Institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its position in Gold Fields by 84.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company’s stock valued at $131,350,000 after buying an additional 2,545,579 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Gold Fields by 32.9% during the 2nd quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock valued at $116,443,000 after purchasing an additional 1,217,594 shares in the last quarter. DJE Kapital AG boosted its holdings in shares of Gold Fields by 19.7% in the second quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock valued at $105,260,000 after buying an additional 742,174 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Gold Fields by 1.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,507,327 shares of the company’s stock worth $99,567,000 after purchasing an additional 45,171 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Gold Fields by 32.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,371,211 shares of the company’s stock valued at $183,416,000 after buying an additional 1,062,242 shares during the last quarter. 24.81% of the stock is owned by institutional investors.

About Gold Fields

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.