Wall Street Zen Downgrades Gold Fields (NYSE:GFI) to Hold

Key Points

• Wall Street Zen downgraded Gold Fields from “buy” to “hold” in a Sunday report, adding to a mixed analyst picture on the stock.
• Other firms have recently adjusted their views and price targets, with RBC trimming its target to $49 and Canaccord Genuity upgrading the stock to buy with a higher target of $57.25. Overall, Gold Fields now has a consensus Hold rating and an average target price of $50.32.
• GFI shares recently traded at $34.15, below both the 50-day moving average of $38.20 and the 200-day average of $45.27. Institutional investors also remain active, with hedge funds and other institutions owning about 24.81% of the company.

Gold Fields (NYSE:GFI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada lowered their price objective 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. Canaccord Genuity Group upgraded shares of Gold Fields from a "hold" rating to a "buy" rating and boosted their target price for the company from $40.25 to $57.25 in a research note on Friday, April 24th. Scotiabank lowered their price target on Gold Fields from $61.00 to $60.00 and set a "sector perform" rating on the stock in a report on Friday, March 20th. Zacks Research upgraded Gold Fields from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 28th. Finally, Weiss Ratings lowered Gold Fields from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Gold Fields has a consensus rating of "Hold" and a consensus target price of $50.32.

Gold Fields Stock Performance

Shares of GFI stock traded up $0.11 during trading hours on Friday, reaching $34.15. The company had a trading volume of 4,662,161 shares, compared to its average volume of 3,704,977. The business has a fifty day moving average price of $38.20 and a 200-day moving average price of $45.27. Gold Fields has a one year low of $23.41 and a one year high of $61.64. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.33 and a current ratio of 1.79.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GFI. Millennium Management LLC increased its stake in shares of Gold Fields by 20.3% in the 1st quarter. Millennium Management LLC now owns 191,482 shares of the company's stock worth $4,230,000 after purchasing an additional 32,343 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Gold Fields by 2,152.0% during the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company's stock valued at $50,000 after purchasing an additional 2,152 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Gold Fields during the first quarter valued at about $236,000. Jones Financial Companies Lllp purchased a new stake in Gold Fields in the first quarter worth about $268,000. Finally, EverSource Wealth Advisors LLC increased its position in Gold Fields by 183.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,935 shares of the company's stock worth $69,000 after buying an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 24.81% of the company's stock.

Gold Fields Company Profile

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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