Gold Fields (NYSE:GFI) Given New $32.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets has increased the price target for Gold Fields (NYSE:GFI) from $24.00 to $32.00, reflecting a potential downside of 1.17% from the company's previous close.
• Gold Fields recently experienced a stock price rise, trading at $32.38 with a significant trading volume of approximately 2.83 million shares on Monday.
• Analyst ratings show a shift, with Wall Street Zen upgrading Gold Fields from a "buy" to a "strong-buy" rating, while overall, the stock maintains an average rating of "Hold" with an average target price of $23.97.

Gold Fields (NYSE:GFI - Get Free Report) had its target price upped by BMO Capital Markets from $24.00 to $32.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. BMO Capital Markets' price target would suggest a potential downside of 1.17% from the company's previous close.

Several other equities analysts also recently commented on the stock. Wall Street Zen upgraded shares of Gold Fields from a "buy" rating to a "strong-buy" rating in a report on Sunday. Canaccord Genuity Group assumed coverage on shares of Gold Fields in a research report on Monday, July 28th. They issued a "buy" rating and a $33.00 target price for the company. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $23.97.

Gold Fields Stock Performance

Shares of NYSE:GFI traded up $1.26 on Monday, hitting $32.38. The company had a trading volume of 2,837,526 shares, compared to its average volume of 3,393,866. Gold Fields has a 1-year low of $12.98 and a 1-year high of $32.38. The stock has a market cap of $28.98 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 0.33 and a beta of 0.42. The stock has a 50 day moving average price of $26.15 and a 200 day moving average price of $23.18. The company has a current ratio of 1.14, a quick ratio of 0.73 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Gold Fields

Several institutional investors and hedge funds have recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new position in shares of Gold Fields in the first quarter worth about $26,000. Penserra Capital Management LLC bought a new position in shares of Gold Fields in the second quarter worth about $26,000. Country Trust Bank acquired a new position in shares of Gold Fields in the second quarter valued at approximately $26,000. IFP Advisors Inc increased its stake in shares of Gold Fields by 672.1% in 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 period. Finally, Banque Cantonale Vaudoise bought a new position in Gold Fields during the 1st quarter worth approximately $44,000. Institutional investors own 24.81% of the company's stock.

Gold Fields Company Profile

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.

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