Gold Fields (NYSE:GFI) Downgraded to “Hold” Rating by Zacks Research

Gold Fields (NYSE:GFI) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on GFI. Morgan Stanley cut shares of Gold Fields from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Gold Fields in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Scotiabank cut their price objective on Gold Fields from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, March 20th. Finally, JPMorgan Chase & Co. raised their target price on Gold Fields from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $43.88.

Gold Fields Stock Performance

Shares of Gold Fields stock opened at $48.13 on Tuesday. The business has a 50-day moving average price of $50.93 and a 200 day moving average price of $45.53. Gold Fields has a twelve month low of $19.35 and a twelve month high of $61.64.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its holdings in shares of 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 buying an additional 273 shares during the period. Archer Investment Corp acquired a new stake in Gold Fields during the 3rd quarter worth approximately $42,000. Cary Street Partners Investment Advisory LLC purchased a new position in Gold Fields in the 3rd quarter valued at approximately $45,000. Bayforest Capital Ltd grew its stake in shares of Gold Fields by 1,106.7% in the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock worth $47,000 after acquiring an additional 996 shares in the last quarter. Finally, Arax Advisory Partners increased its position in shares of Gold Fields by 352.6% during the fourth quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock worth $50,000 after acquiring an additional 885 shares during the period. 24.81% of the stock is currently owned by institutional investors and hedge funds.

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.