JPMorgan Chase & Co. Issues Pessimistic Forecast for Gold Fields (NYSE:GFI) Stock Price

Key Points

• JPMorgan Chase & Co. cut its price target on Gold Fields from $75 to $55, while keeping an overweight rating. The new target still implies about 71% upside from the prior close.
• Analyst sentiment on Gold Fields is mixed overall: recent moves included upgrades and cuts from several firms, and the stock currently carries a consensus Hold rating with an average target price of $47.75.
• Gold Fields shares fell 2.6% to $32.13 on the day, trading below both its 50-day and 200-day moving averages.

Gold Fields (NYSE:GFI - Get Free Report) had its price target cut by JPMorgan Chase & Co. from $75.00 to $55.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 71.15% from the stock's previous close.

A number of other equities research analysts have also issued reports on GFI. Canaccord Genuity Group upgraded Gold Fields from a "hold" rating to a "buy" rating and increased their price target for the stock from $40.25 to $57.25 in a research note on Friday, April 24th. Scotiabank lowered their price objective on Gold Fields from $60.00 to $52.00 and set a "sector perform" rating on the stock in a research report on Tuesday. Weiss Ratings lowered Gold Fields from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, June 3rd. Royal Bank Of Canada cut their target price on Gold Fields from $50.00 to $49.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Finally, Zacks Research raised Gold Fields from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Gold Fields currently has a consensus rating of "Hold" and an average target price of $47.75.

Gold Fields Trading Down 2.6%

Shares of Gold Fields stock traded down $0.85 on Thursday, hitting $32.13. 2,077,012 shares of the company's stock were exchanged, compared to its average volume of 3,526,375. Gold Fields has a 1 year low of $23.41 and a 1 year high of $61.64. The company has a 50-day simple moving average of $37.59 and a 200-day simple moving average of $44.99. The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.34.

Institutional Trading of Gold Fields

A number of institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Gold Fields in the first quarter valued at $25,000. CIBC Private Wealth Group LLC boosted its stake in shares of Gold Fields by 47.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company's stock worth $36,000 after purchasing an additional 273 shares during the period. Bayforest Capital Ltd grew its holdings in Gold Fields by 1,106.7% during the 4th quarter. Bayforest Capital Ltd now owns 1,086 shares of the company's stock valued at $47,000 after purchasing an additional 996 shares during the last quarter. Arax Advisory Partners grew its holdings in Gold Fields by 352.6% during the 4th quarter. Arax Advisory Partners now owns 1,136 shares of the company's stock valued at $50,000 after purchasing an additional 885 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Gold Fields by 2,152.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,252 shares of the company's stock worth $50,000 after purchasing an additional 2,152 shares during the period. 24.81% of the stock is currently 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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