Gold Fields (NYSE:GFI) Stock Rating Lowered by Wall Street Zen

Key Points

• Gold Fields has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, indicating a more cautious outlook by analysts.
• Canaccord Genuity Group has initiated coverage on Gold Fields with a "buy" rating and a target price of $33.00, amidst increasing investor interest in the stock.
• The company's shares have experienced significant volatility, with a twelve month low of $12.98 and a high of $31.77, reflecting varying market conditions for gold.

Wall Street Zen lowered shares of Gold Fields (NYSE:GFI - Free Report) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Separately, Canaccord Genuity Group began coverage on Gold Fields in a research report on Monday, July 28th. They set a "buy" rating and a $33.00 target price for the company. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.36.

Gold Fields Trading Up 2.0%

Shares of NYSE:GFI traded up $0.59 on Friday, hitting $29.90. 3,286,815 shares of the company's stock were exchanged, compared to its average volume of 2,982,258. Gold Fields has a 12 month low of $12.98 and a 12 month high of $31.77. The stock has a market capitalization of $26.76 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 0.31 and a beta of 0.42. The business's 50 day simple moving average is $25.94 and its two-hundred day simple moving average is $22.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 0.73.

Hedge Funds Weigh In On Gold Fields

Several institutional investors and hedge funds have recently added to or reduced their stakes in GFI. Arrowstreet Capital Limited Partnership grew its stake in Gold Fields by 84.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company's stock valued at $131,350,000 after purchasing an additional 2,545,579 shares during the last quarter. Clark Capital Management Group Inc. purchased a new position in Gold Fields in the first quarter valued at about $49,186,000. Marshall Wace LLP grew its stake in Gold Fields by 1,594.7% in the fourth quarter. Marshall Wace LLP now owns 2,114,631 shares of the company's stock valued at $27,913,000 after purchasing an additional 1,989,849 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Gold Fields by 122.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,308,969 shares of the company's stock valued at $78,323,000 after purchasing an additional 1,822,689 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Gold Fields in the first quarter valued at about $30,914,000. 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.