Gold Fields (NYSE:GFI) Now Covered by Canaccord Genuity Group

Key Points

• Analysts at Canaccord Genuity Group initiated coverage of Gold Fields (NYSE:GFI) with a "buy" rating and a price target of $33.30, indicating a potential upside of 34.38% from its previous close.
• Gold Fields has received mixed ratings from various analysts, with four rating it as a buy and four as a hold, resulting in an average rating of "Moderate Buy" with a price target of $22.42.
• The stock showed minor gains, up 0.5% to open at $24.78, and the company has a current market capitalization of $22.18 billion.

Canaccord Genuity Group assumed coverage on shares of Gold Fields (NYSE:GFI - Free Report) in a report issued on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $33.00 price target on the stock.

GFI has been the topic of several other research reports. Scotiabank increased their target price on Gold Fields from $20.00 to $23.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. HSBC reaffirmed a "hold" rating and set a $21.00 target price on shares of Gold Fields in a research report on Thursday, April 17th. Wall Street Zen cut Gold Fields from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Hsbc Global Res raised Gold Fields to a "hold" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Gold Fields has an average rating of "Moderate Buy" and an average price target of $22.36.

Gold Fields Trading Down 0.8%

NYSE:GFI traded down $0.19 during midday trading on Monday, hitting $24.27. The stock had a trading volume of 1,135,524 shares, compared to its average volume of 3,399,716. Gold Fields has a one year low of $12.98 and a one year high of $26.36. The company has a market capitalization of $21.72 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.27 and a beta of 0.54. The stock has a 50-day moving average of $24.22 and a 200 day moving average of $21.53. The company has a quick ratio of 0.73, a current ratio of 1.14 and a debt-to-equity ratio of 0.40.

Hedge Funds Weigh In On Gold Fields

A number of institutional investors have recently modified their holdings of the stock. Freedom Investment Management Inc. purchased a new position in shares of Gold Fields during the 2nd quarter valued at about $554,000. FNY Investment Advisers LLC purchased a new position in shares of Gold Fields during the 2nd quarter valued at about $47,000. DekaBank Deutsche Girozentrale raised its stake in shares of Gold Fields by 10.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 121,770 shares of the company's stock valued at $2,773,000 after buying an additional 11,770 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Gold Fields by 34.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 37,957 shares of the company's stock valued at $898,000 after buying an additional 9,691 shares during the last quarter. Finally, Ritholtz Wealth Management raised its stake in shares of Gold Fields by 38.4% during the 2nd quarter. Ritholtz Wealth Management now owns 35,857 shares of the company's stock valued at $849,000 after buying an additional 9,955 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 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.