Gold Fields (NYSE:GFI) Stock Price Expected to Rise, Scotiabank Analyst Says

Gold Fields (NYSE:GFI - Get Free Report) had its price target raised by Scotiabank from $20.00 to $23.00 in a research report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price target indicates a potential downside of 4.33% from the stock's current price.

GFI has been the topic of a number of other reports. JPMorgan Chase & Co. increased their price target on shares of Gold Fields from $17.10 to $18.80 and gave the company a "neutral" rating in a research report on Wednesday, January 15th. StockNews.com raised shares of Gold Fields from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $18.56.

Gold Fields Price Performance

NYSE:GFI traded down $0.63 on Monday, reaching $24.04. 4,859,660 shares of the company's stock were exchanged, compared to its average volume of 3,664,572. Gold Fields has a 52 week low of $12.98 and a 52 week high of $25.52. The stock has a fifty day simple moving average of $20.75 and a 200-day simple moving average of $17.28. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 0.30 and a beta of 0.92.

Hedge Funds Weigh In On Gold Fields

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of 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. Parallel Advisors LLC grew its holdings in Gold Fields by 24.1% in the first quarter. Parallel Advisors LLC now owns 6,695 shares of the company's stock valued at $148,000 after purchasing an additional 1,298 shares during the period. FCA Corp TX purchased a new stake in Gold Fields in the 4th quarter worth $108,000. Janney Montgomery Scott LLC acquired a new position in shares of Gold Fields during the 1st quarter worth about $203,000. Finally, Net Worth Advisory Group purchased a new position in shares of Gold Fields in the fourth quarter valued at approximately $136,000. 24.81% of the stock is owned by hedge funds and other institutional investors.

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.