Royal Bank Of Canada Increases Gold Fields (NYSE:GFI) Price Target to $54.00

Key Points

• Royal Bank of Canada raised Gold Fields’ price target from $49 to $54 and maintained an “outperform” rating, implying 27.06% upside from the prior close.
• Analyst sentiment is mixed: Gold Fields has a consensus “Hold” rating from 10 analysts and a consensus price target of $55.05, with recent targets ranging from $52 to $55.
• Gold Fields shares fell 1.0% to $42.50, while institutional investors own approximately 24.81% of the company’s stock.

Gold Fields (NYSE:GFI - Get Free Report) had its price objective hoisted by stock analysts at Royal Bank Of Canada from $49.00 to $54.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 27.06% from the company's previous close.

Several other brokerages also recently weighed in on GFI. JPMorgan Chase & Co. lowered their price objective on Gold Fields from $75.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Gold Fields in a report on Monday, August 31st. Wall Street Zen cut shares of Gold Fields from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Zacks Research cut Gold Fields from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. Finally, Scotiabank reduced their price target on Gold Fields from $60.00 to $52.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Gold Fields presently has a consensus rating of "Hold" and a consensus price target of $55.05.

Gold Fields Trading Down 1.0%

Shares of NYSE:GFI traded down $0.41 on Wednesday, reaching $42.50. 1,649,267 shares of the company traded hands, compared to its average volume of 3,542,749. Gold Fields has a 52 week low of $31.11 and a 52 week high of $61.64. The company has a quick ratio of 1.33, a current ratio of 1.87 and a debt-to-equity ratio of 0.27. The business's 50-day simple moving average is $39.68 and its 200 day simple moving average is $41.68.

Hedge Funds Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Crescent Grove Advisors LLC bought a new stake in Gold Fields during the 1st quarter valued at about $1,795,000. Bank of America Corp DE lifted its stake in shares of Gold Fields by 32.1% in the first quarter. Bank of America Corp DE now owns 771,791 shares of the company's stock worth $35,039,000 after buying an additional 187,755 shares in the last quarter. Oakmont Investment Advisors Inc. bought a new position in shares of Gold Fields in the second quarter worth approximately $912,000. Euro Pacific Asset Management LLC grew its holdings in shares of Gold Fields by 371.9% during the first quarter. Euro Pacific Asset Management LLC now owns 64,497 shares of the company's stock valued at $3,117,000 after buying an additional 50,830 shares during the last quarter. Finally, Engineers Gate Manager LP grew its holdings in shares of Gold Fields by 51.0% during the second quarter. Engineers Gate Manager LP now owns 87,455 shares of the company's stock valued at $2,938,000 after buying an additional 29,555 shares during the last quarter. Hedge funds and other institutional investors own 24.81% of the company's stock.

About Gold Fields

Gold Fields Limited is a global gold producer headquartered in Johannesburg, South Africa. The company explores for, develops and operates gold mines, producing doré and other gold-bearing products for refining and sale. Its portfolio also includes limited by-product production, such as copper and silver, at certain operations.

Gold Fields operates mines and development projects across Africa, Australia and the Americas. Its assets include the South Deep mine in South Africa; Tarkwa and the Damang complex in Ghana; St Ives, Agnew and Granny Smith in Western Australia; Cerro Corona in Peru; and Salares Norte in Chile.

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