Scotiabank Increases Gold Fields (NYSE:GFI) Price Target to $47.00

Key Points

• Scotiabank has increased its price target for Gold Fields (NYSE:GFI) from $30.00 to $47.00, indicating a potential upside of 14.61% based on the stock's previous close.
• The stock currently holds an average rating of "Hold" from analysts, with one analyst recommending a "Buy" and eight rated it as "Hold."
• Gold Fields has a market capitalization of $36.70 billion and its shares have showed significant movement with a one-year high of $47.18 and a low of $12.98.

Gold Fields (NYSE:GFI - Get Free Report) had its price target lifted by equities researchers at Scotiabank from $30.00 to $47.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's target price would suggest a potential upside of 14.61% from the stock's previous close.

A number of other research firms have also issued reports on GFI. HSBC restated a "hold" rating on shares of Gold Fields in a research report on Thursday, October 9th. Canaccord Genuity Group lowered Gold Fields from a "buy" rating to a "hold" rating and set a $39.00 price objective for the company. in a research report on Monday, October 13th. Capital One Financial set a $32.00 price objective on Gold Fields in a research report on Friday, August 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Gold Fields in a research report on Wednesday, October 8th. Finally, BMO Capital Markets boosted their price objective on Gold Fields from $24.00 to $32.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $31.63.

Gold Fields Stock Performance

Shares of NYSE GFI traded up $1.41 during trading on Thursday, reaching $41.01. The stock had a trading volume of 773,051 shares, compared to its average volume of 3,468,338. Gold Fields has a one year low of $12.98 and a one year high of $47.18. The stock has a market cap of $36.70 billion, a PE ratio of 17.45, a P/E/G ratio of 0.30 and a beta of 0.49. The firm's 50 day moving average price is $37.77 and its two-hundred day moving average price is $28.76.

Institutional Trading of Gold Fields

A number of hedge funds and other institutional investors have recently modified their holdings of GFI. Richardson Financial Services Inc. bought a new stake in shares of Gold Fields in the 1st quarter worth $26,000. Penserra Capital Management LLC bought a new stake in shares of Gold Fields in the 2nd quarter worth $26,000. Country Trust Bank bought a new stake in shares of Gold Fields in the 2nd quarter worth $26,000. IFP Advisors Inc raised its stake in shares of Gold Fields by 672.1% in the 2nd quarter. IFP Advisors Inc now owns 1,552 shares of the company's stock worth $37,000 after buying an additional 1,351 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Gold Fields in the 1st quarter worth $44,000. 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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