Gold Fields (NYSE:GFI) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Gold Fields from “hold” to “strong sell”, adding to a mixed analyst backdrop for the gold miner.
• Other firms have also recently adjusted views and price targets, with several cuts offset by one upgrade; overall, Gold Fields now has an average Wall Street rating of “Hold” and an average price target of $47.75.
• The stock was up 4.0% in Tuesday trading, opening at $33.59, well below its 52-week high of $61.64 and below both its 50-day and 200-day moving averages.

Gold Fields (NYSE:GFI - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada cut their target price on Gold Fields from $50.00 to $49.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Scotiabank dropped their price target on Gold Fields from $60.00 to $52.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. JPMorgan Chase & Co. dropped their price target on Gold Fields from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, July 16th. Weiss Ratings lowered Gold Fields from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 3rd. Finally, Canaccord Genuity Group upgraded Gold Fields from a "hold" rating to a "buy" rating and raised their price objective for the stock from $40.25 to $57.25 in a research note on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $47.75.

Gold Fields Trading Up 4.0%

NYSE GFI opened at $33.59 on Tuesday. The company has a fifty day simple moving average of $36.30 and a two-hundred day simple moving average of $44.57. Gold Fields has a 12-month low of $23.86 and a 12-month high of $61.64. The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GFI. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Gold Fields by 43.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 245,035 shares of the company's stock valued at $10,698,000 after buying an additional 74,539 shares in the last quarter. Crescent Grove Advisors LLC acquired a new position in shares of Gold Fields during the 1st quarter worth approximately $1,795,000. Sigma Planning Corp lifted its position in shares of Gold Fields by 203.7% during the 4th quarter. Sigma Planning Corp now owns 55,407 shares of the company's stock valued at $2,419,000 after buying an additional 37,161 shares in the last quarter. PKO Investment Management Joint Stock Co lifted its position in shares of Gold Fields by 11.9% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 319,496 shares of the company's stock valued at $13,949,000 after buying an additional 34,000 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Gold Fields by 39.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 6,085,653 shares of the company's stock valued at $265,700,000 after acquiring an additional 1,714,442 shares during the period. 24.81% of the stock is owned by institutional investors and hedge funds.

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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