Zacks Research Upgrades Gold Fields (NYSE:GFI) to Strong-Buy

Gold Fields (NYSE:GFI) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also weighed in on the stock. Scotiabank increased their target price on shares of Gold Fields from $30.00 to $47.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Capital One Financial set a $32.00 target price on shares of Gold Fields in a report on Friday, August 22nd. HSBC reiterated a “hold” rating on shares of Gold Fields in a report on Thursday, October 9th. JPMorgan Chase & Co. began coverage on shares of Gold Fields in a research report on Thursday, October 23rd. They set an “overweight” rating and a $62.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.43.

Gold Fields Trading Up 6.9%

GFI opened at $38.13 on Tuesday. The firm’s fifty day moving average is $39.28 and its two-hundred day moving average is $29.95. Gold Fields has a twelve month low of $12.98 and a twelve month high of $47.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GFI. Arrowstreet Capital Limited Partnership grew its position in shares of 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 acquiring an additional 2,545,579 shares during the period. Clark Capital Management Group Inc. bought a new position in shares of Gold Fields in the 1st quarter valued at about $49,186,000. Robeco Institutional Asset Management B.V. grew its position in shares of Gold Fields by 122.6% in the 2nd 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Gold Fields in the 1st quarter valued at about $30,914,000. Finally, Invesco Ltd. grew its position in shares of Gold Fields by 32.9% in the 2nd 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 period. Institutional investors own 24.81% of the company’s stock.

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.