Gold Fields (NYSE:GFI) Stock Price Up 6.4% – Still a Buy?

Gold Fields Limited (NYSE:GFI)’s share price traded up 6.4% during trading on Wednesday . The stock traded as high as $60.16 and last traded at $60.06. 2,553,163 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 2,999,394 shares. The stock had previously closed at $56.45.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GFI. Wall Street Zen raised Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Investec downgraded shares of Gold Fields from a “buy” rating to a “hold” rating in a report on Friday, October 10th. Canaccord Genuity Group downgraded shares of Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 price target on the stock. in a research note on Monday, October 13th. Citigroup increased their price target on Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, Morgan Stanley lowered shares of Gold Fields from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.00.

Gold Fields Trading Down 14.6%

The stock has a fifty day moving average price of $46.49 and a 200-day moving average price of $39.38.

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently bought and sold shares of GFI. Penserra Capital Management LLC acquired a new stake in Gold Fields during the 2nd quarter valued at $26,000. Country Trust Bank bought a new position in Gold Fields in the 2nd quarter worth $26,000. CIBC Private Wealth Group LLC increased its position in Gold Fields by 47.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after buying an additional 273 shares during the period. IFP Advisors Inc raised its position in shares of Gold Fields by 672.1% during the second quarter. IFP Advisors Inc now owns 1,552 shares of the company’s stock valued at $37,000 after buying an additional 1,351 shares during the last quarter. Finally, Archer Investment Corp acquired a new position in shares of Gold Fields in the third quarter valued at $42,000. 24.81% of the stock is currently owned by institutional investors.

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.