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

Key Points

• Wall Street Zen downgraded Gold Fields (NYSE:GFI) from a "strong-buy" to a "buy" rating, signaling a modest pullback in one firm's enthusiasm for the stock.
• Analyst coverage is mixed — five Buy, five Hold and one Sell — leaving a consensus rating of "Hold" and a consensus price target of $49.75.
• Shares opened at $45.76 and trade near their 50-day and 200-day moving averages ($48.67 and $46.35), inside a 12-month range of $19.35 to $61.64, giving context to the stock's current market position.

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 research note issued on Monday.

A number of other equities analysts have also recently issued reports on GFI. Scotiabank decreased 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 research report on Friday, March 20th. JPMorgan Chase & Co. boosted their price objective on shares of Gold Fields from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, January 20th. Morgan Stanley cut shares of Gold Fields from an "equal weight" rating to an "underweight" rating in a research report on Friday, January 23rd. Canaccord Genuity Group upgraded shares of Gold Fields from a "hold" rating to a "buy" rating and boosted their price objective for the company from $40.25 to $57.25 in a research report on Friday. Finally, Zacks Research cut shares of Gold Fields from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $49.75.

Gold Fields Price Performance

Gold Fields stock opened at $45.76 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.79 and a quick ratio of 1.33. The firm has a fifty day simple moving average of $48.67 and a two-hundred day simple moving average of $46.35. Gold Fields has a twelve month low of $19.35 and a twelve month high of $61.64.

Hedge Funds Weigh In On Gold Fields

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC boosted its stake in Gold Fields by 47.1% during the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company's stock worth $36,000 after acquiring an additional 273 shares in the last quarter. Archer Investment Corp bought a new stake in Gold Fields during the third quarter worth about $42,000. Cary Street Partners Investment Advisory LLC bought a new stake in Gold Fields during the third quarter worth about $45,000. Bayforest Capital Ltd boosted its stake in Gold Fields by 1,106.7% during the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company's stock worth $47,000 after acquiring an additional 996 shares in the last quarter. Finally, Arax Advisory Partners boosted its stake in Gold Fields by 352.6% during the fourth quarter. Arax Advisory Partners now owns 1,136 shares of the company's stock worth $50,000 after acquiring an additional 885 shares in the last quarter. Hedge funds and other institutional investors own 24.81% of the company's stock.

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.