Gold Fields (NYSE:GFI) Shares Up 6.4% – Still a Buy?

Gold Fields Limited (NYSE:GFI) rose 6.4% during mid-day trading on Wednesday . The stock traded as high as $60.16 and last traded at $60.06. Approximately 2,553,163 shares traded hands during trading, a decline of 15% from the average daily volume of 2,999,394 shares. The stock had previously closed at $56.45.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Canaccord Genuity Group cut shares of Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 target price for the company. in a research note on Monday, October 13th. Zacks Research cut Gold Fields from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Investec downgraded Gold Fields from a “buy” rating to a “hold” rating in a report on Friday, October 10th. Royal Bank Of Canada decreased their price objective on shares of Gold Fields to $45.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Finally, Morgan Stanley lowered Gold Fields from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Gold Fields presently has a consensus rating of “Hold” and a consensus target price of $44.00.

Gold Fields Stock Up 6.8%

The stock’s fifty day moving average price is $45.42 and its 200-day moving average price is $38.91.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GFI. Penserra Capital Management LLC bought a new stake in Gold Fields during the second quarter worth $26,000. Country Trust Bank acquired a new stake in shares of Gold Fields during the second quarter worth $26,000. CIBC Private Wealth Group LLC boosted its holdings in Gold Fields by 47.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock valued at $36,000 after purchasing an additional 273 shares during the period. IFP Advisors Inc grew its position in Gold Fields by 672.1% during the second 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, Archer Investment Corp bought a new stake in shares of Gold Fields during the 3rd quarter valued at $42,000. 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.