Gold Fields (NYSE:GFI) Sets New 52-Week High – Time to Buy?

Gold Fields Limited (NYSE:GFI) shares hit a new 52-week high on Monday . The stock traded as high as $48.63 and last traded at $48.34, with a volume of 735291 shares changing hands. The stock had previously closed at $45.69.

Analyst Ratings Changes

Several brokerages recently commented on GFI. Canaccord Genuity Group cut shares of Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 price objective for the company. in a research note on Monday, October 13th. Zacks Research lowered shares of Gold Fields from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Royal Bank Of Canada lowered their price objective on Gold Fields to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. HSBC reissued a “hold” rating on shares of Gold Fields in a research note on Thursday, October 9th. Finally, JPMorgan Chase & Co. upped their target price on Gold Fields from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.13.

Gold Fields Stock Up 6.8%

The stock’s fifty day moving average price is $42.62 and its 200 day moving average price is $36.58.

Institutional Investors Weigh In On Gold Fields

Several hedge funds have recently added to or reduced their stakes in GFI. Van ECK Associates Corp increased its position in shares of Gold Fields by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 34,303,269 shares of the company’s stock valued at $1,439,365,000 after purchasing an additional 539,923 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Gold Fields by 84.7% in the second 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 in the last quarter. Invesco Ltd. grew its position in Gold Fields by 32.9% during the second quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock valued at $116,443,000 after acquiring an additional 1,217,594 shares during the last quarter. DJE Kapital AG raised its stake in shares of Gold Fields by 19.7% during the second quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock worth $105,260,000 after acquiring an additional 742,174 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of 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 worth $183,416,000 after acquiring an additional 1,062,242 shares during the last quarter. Institutional investors own 24.81% of the company’s stock.

About Gold Fields

Gold Fields (NYSE: GFI) is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company’s core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.