Gold Fields (NYSE:GFI) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Gold Fields from a “hold” to a “buy,” giving the gold miner a more bullish new rating.
• Despite the upgrade, the broader analyst view remains cautious: Gold Fields still has an average “hold” rating and a consensus target price of $47.75.
• The stock was trading at $32.00 on Monday, well below its 52-week high of $61.64; institutional ownership stands at 24.81%.

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

A number of other research analysts also recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Gold Fields from $50.00 to $49.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Gold Fields from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. lowered their price objective on Gold Fields from $75.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday. Zacks Research upgraded shares of Gold Fields from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. Finally, Scotiabank cut their price target on shares of Gold Fields from $60.00 to $52.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $47.75.

Gold Fields Stock Up 0.0%

Shares of NYSE:GFI opened at $32.00 on Monday. Gold Fields has a 1 year low of $23.86 and a 1 year high of $61.64. 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 business's 50-day moving average is $37.08 and its 200-day moving average is $44.81.

Hedge Funds Weigh In On Gold Fields

A number of large investors have recently made changes to their positions in GFI. V Square Quantitative Management LLC bought a new stake in shares of Gold Fields during the 1st quarter valued at $25,000. CIBC Private Wealth Group LLC increased its position in shares of Gold Fields by 47.1% during the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company's stock valued at $36,000 after buying an additional 273 shares during the period. Bayforest Capital Ltd increased its position in shares of Gold Fields by 1,106.7% during the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company's stock valued at $47,000 after buying an additional 996 shares during the period. Arax Advisory Partners lifted its holdings in shares of Gold Fields by 352.6% in the fourth quarter. Arax Advisory Partners now owns 1,136 shares of the company's stock worth $50,000 after buying an additional 885 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Gold Fields by 2,152.0% in the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company's stock worth $50,000 after buying an additional 2,152 shares in the last quarter. 24.81% of the stock is owned by institutional investors.

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.

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