Gold Fields (NYSE:GFI) Upgraded at StockNews.com

Gold Fields (NYSE:GFI) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

A number of other brokerages also recently issued reports on GFI. Scotiabank cut their price target on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. Bank of America assumed coverage on shares of Gold Fields in a report on Monday, September 16th. They issued a “buy” rating and a $16.00 target price for the company. Investec upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Gold Fields from $17.50 to $16.70 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Gold Fields has a consensus rating of “Moderate Buy” and a consensus price target of $15.93.

Gold Fields Stock Performance

Shares of GFI opened at $17.14 on Monday. The stock has a market capitalization of $15.34 billion, a PE ratio of 8.97, a PEG ratio of 0.52 and a beta of 1.18. The company has a 50 day moving average price of $15.40 and a 200-day moving average price of $15.84. Gold Fields has a fifty-two week low of $12.19 and a fifty-two week high of $18.97.

Hedge Funds Weigh In On Gold Fields

Hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp grew its position in Gold Fields by 3.3% during the 3rd quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock worth $744,566,000 after purchasing an additional 1,549,372 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Gold Fields by 1.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 121,770 shares of the company’s stock worth $1,929,000 after buying an additional 2,300 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Gold Fields during the third quarter worth $613,000. International Assets Investment Management LLC purchased a new stake in shares of Gold Fields during the third quarter valued at $10,600,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Gold Fields by 66.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,385,210 shares of the company’s stock valued at $21,263,000 after acquiring an additional 551,210 shares during the period. Institutional investors and hedge funds own 26.02% of the company’s stock.

Gold Fields Company Profile

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.