Wall Street Zen Downgrades Gold Fields (NYSE:GFI) to Buy

Gold Fields (NYSE:GFI) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

Several other equities analysts have also weighed in on the stock. Royal Bank Of Canada cut their target price on shares of Gold Fields to $45.00 and set an “outperform” rating for the company in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gold Fields in a report on Wednesday, October 8th. HSBC reissued a “hold” rating on shares of Gold Fields in a research note on Thursday, October 9th. JPMorgan Chase & Co. began coverage on Gold Fields in a research note on Thursday, October 23rd. They issued an “overweight” rating and a $62.00 price target for the company. Finally, Canaccord Genuity Group cut Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 price target for the company. in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Gold Fields currently has an average rating of “Moderate Buy” and a consensus target price of $41.88.

Gold Fields Trading Down 0.8%

NYSE:GFI traded down $0.33 during trading hours on Friday, reaching $42.89. The company had a trading volume of 4,264,995 shares, compared to its average volume of 3,517,458. Gold Fields has a 1-year low of $12.98 and a 1-year high of $47.18. The business’s 50 day moving average price is $40.84 and its 200-day moving average price is $32.07.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GFI. Arrowstreet Capital Limited Partnership boosted its holdings 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 worth $131,350,000 after buying an additional 2,545,579 shares during the last quarter. Clark Capital Management Group Inc. purchased a new position in shares of Gold Fields in the first quarter valued at approximately $49,186,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Gold Fields by 122.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,308,969 shares of the company’s stock valued at $78,323,000 after acquiring an additional 1,822,689 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 in the first quarter worth approximately $30,914,000. Finally, Invesco Ltd. increased its position in shares of Gold Fields by 32.9% during the second quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock worth $116,443,000 after purchasing an additional 1,217,594 shares in the last quarter. Institutional investors and hedge funds own 24.81% of the company’s stock.

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.