Gold Fields (NYSE:GFI) Lowered to "Buy" Rating 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.

Gold Fields (NYSE:GFI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

Separately, Canaccord Genuity Group assumed coverage on shares of Gold Fields in a research note on Monday, July 28th. They issued a "buy" rating and a $33.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.36.

Gold Fields Price Performance

Shares of NYSE GFI opened at $30.02 on Friday. Gold Fields has a twelve month low of $12.98 and a twelve month high of $31.77. The firm has a market cap of $26.87 billion, a P/E ratio of 12.77, a PEG ratio of 0.32 and a beta of 0.42. The company has a 50 day moving average of $25.62 and a 200 day moving average of $22.67. The company has a quick ratio of 0.73, a current ratio of 1.14 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Gold Fields

Hedge funds and other institutional investors have recently bought and sold shares of the company. Country Trust Bank purchased a new position in shares of Gold Fields in the second quarter worth $26,000. Penserra Capital Management LLC purchased a new position in shares of Gold Fields in the second quarter worth $26,000. Richardson Financial Services Inc. purchased a new position in shares of Gold Fields in the first quarter worth $26,000. IFP Advisors Inc raised its holdings 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 worth $37,000 after buying an additional 1,351 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Gold Fields in the second quarter worth $47,000. 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.

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