Canaccord Genuity Group Upgrades Gold Fields (NYSE:GFI) to "Buy"

Key Points

• Canaccord Genuity Group upgraded Gold Fields (GFI) from "hold" to Buy with a $57.25 price target, implying about a 30.25% upside from the prior close.
• Analyst coverage is mixed—five Buys, five Holds and one Sell—giving an average rating of "Hold" and an average price target of $49.75.
• Shares opened at $43.96 and trade in a 52‑week range of $19.35–$61.64 (50/200‑day SMAs: $48.84/$46.27); institutional ownership is ~24.8% and several hedge funds recently adjusted positions.

Gold Fields (NYSE:GFI - Get Free Report) was upgraded by analysts at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a $57.25 price target on the stock. Canaccord Genuity Group's price target suggests a potential upside of 30.25% from the stock's previous close.

A number of other research analysts have also weighed in on GFI. Wall Street Zen raised shares of Gold Fields from a "buy" rating to a "strong-buy" rating in a research note on Sunday, April 19th. Weiss Ratings reissued a "buy (b)" rating on shares of Gold Fields in a research report on Thursday, January 22nd. Scotiabank dropped their price objective on shares of Gold Fields from $61.00 to $60.00 and set a "sector perform" rating on the stock in a report on Friday, March 20th. Zacks Research cut shares of Gold Fields from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. 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. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $49.75.

Gold Fields Stock Performance

NYSE:GFI opened at $43.96 on Friday. Gold Fields has a fifty-two week low of $19.35 and a fifty-two week high of $61.64. The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.34. The business's 50-day simple moving average is $48.84 and its 200-day simple moving average is $46.27.

Hedge Funds Weigh In On Gold Fields

Several hedge funds have recently made changes to their positions in GFI. Millennium Management LLC lifted its position in shares of Gold Fields by 20.3% in the first quarter. Millennium Management LLC now owns 191,482 shares of the company's stock worth $4,230,000 after purchasing an additional 32,343 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Gold Fields by 2,152.0% during the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company's stock worth $50,000 after purchasing an additional 2,152 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Gold Fields in the first quarter valued at approximately $236,000. Jones Financial Companies Lllp acquired a new stake in shares of Gold Fields in the first quarter valued at approximately $268,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Gold Fields by 183.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,935 shares of the company's stock valued at $69,000 after buying an additional 1,900 shares during the last quarter. 24.81% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.