Gold Fields (NYSE:GFI) Upgraded at Zacks Research

Gold Fields (NYSE:GFI) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

Several other brokerages have also commented on GFI. Wall Street Zen lowered Gold Fields from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Gold Fields in a research report on Monday, August 31st. JPMorgan Chase & Co. dropped their price objective on Gold Fields from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Scotiabank cut their price objective on Gold Fields from $60.00 to $52.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group began coverage on Gold Fields in a report on Thursday, October 15th. They set a “neutral” rating and a $38.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.46.

Gold Fields Price Performance

Shares of GFI opened at $36.20 on Tuesday. Gold Fields has a 1 year low of $31.11 and a 1 year high of $61.64. The stock has a 50 day simple moving average of $40.80 and a 200-day simple moving average of $42.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GFI. Aprio Wealth Management LLC increased its holdings in Gold Fields by 5.8% during the 3rd quarter. Aprio Wealth Management LLC now owns 14,341 shares of the company’s stock valued at $518,000 after purchasing an additional 787 shares in the last quarter. Ativo Capital Management LLC acquired a new stake in Gold Fields during the 3rd quarter valued at $1,475,000. Latitude Advisors LLC bought a new position in Gold Fields in the 3rd quarter valued at $36,000. Carolina Wealth Advisors LLC raised its position in Gold Fields by 1.7% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 59,987 shares of the company’s stock valued at $2,167,000 after purchasing an additional 998 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new position in Gold Fields in the 3rd quarter valued at $216,000. 24.81% of the stock is owned by institutional investors and hedge funds.

About Gold Fields

Gold Fields Limited (NYSE:GFI) is a global gold producer headquartered in Johannesburg, South Africa. The company explores for, develops and operates gold mines, producing doré and refined gold for sale to international markets. Its activities include mine development, underground and open-pit mining, ore processing and exploration for additional mineral resources.

Gold Fields has a history dating to 1887 and has grown into one of the world’s major gold-mining companies through acquisitions, partnerships and the development of its own projects.