Gold Fields (NYSE:GFI) Now Covered by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage of Gold Fields (NYSE:GFI) with an "overweight" rating and a price target of $62.00, suggesting a potential upside of 50.45% from its current price.
• Other analysts have mixed views; while Scotiabank raised its target for Gold Fields to $47.00, Investec downgraded its rating from "buy" to "hold".
• Gold Fields stock recently traded up 4.1%, reaching $41.21, while the stock has a one-year trading range between $12.98 and $47.18.

Investment analysts at JPMorgan Chase & Co. assumed coverage on shares of Gold Fields (NYSE:GFI - Get Free Report) in a research report issued to clients and investors on Thursday. The firm set an "overweight" rating and a $62.00 price target on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 50.45% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Investec cut Gold Fields from a "buy" rating to a "hold" rating in a report on Friday, October 10th. HSBC restated a "hold" rating on shares of Gold Fields in a research note on Thursday, October 9th. Scotiabank boosted their price target on Gold Fields from $30.00 to $47.00 and gave the stock a "sector perform" rating in a research report on Thursday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Gold Fields in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Gold Fields from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $38.83.

Gold Fields Stock Up 4.1%

Gold Fields stock traded up $1.61 during mid-day trading on Thursday, hitting $41.21. 2,049,729 shares of the company's stock traded hands, compared to its average volume of 3,475,633. Gold Fields has a one year low of $12.98 and a one year high of $47.18. The firm has a 50 day moving average price of $37.77 and a 200 day moving average price of $28.76. The company has a market cap of $36.88 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 0.30 and a beta of 0.49.

Hedge Funds Weigh In On Gold Fields

A number of hedge funds and other institutional investors have recently bought and sold shares of GFI. GAMMA Investing LLC grew its holdings in Gold Fields by 21.0% during the first quarter. GAMMA Investing LLC now owns 3,742 shares of the company's stock worth $83,000 after purchasing an additional 649 shares during the period. Janney Montgomery Scott LLC bought a new position in Gold Fields during the first quarter worth about $203,000. Blue Trust Inc. grew its holdings in Gold Fields by 67.1% during the first quarter. Blue Trust Inc. now owns 4,053 shares of the company's stock worth $90,000 after purchasing an additional 1,627 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Gold Fields by 153.6% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,486,280 shares of the company's stock worth $32,832,000 after acquiring an additional 900,317 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Gold Fields by 47.9% in the first quarter. Sequoia Financial Advisors LLC now owns 15,756 shares of the company's stock valued at $348,000 after purchasing an additional 5,102 shares during the last quarter. 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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