Gold Fields (NYSE:GFI) Cut to Buy at StockNews.com

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

GFI has been the topic of several other reports. Investec raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Scotiabank dropped their target price on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Finally, Bank of America initiated coverage on Gold Fields in a research report on Monday, September 16th. They set a “buy” rating and a $16.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.93.

Gold Fields Stock Down 3.8 %

Shares of GFI opened at $15.84 on Tuesday. The business’s 50-day moving average is $15.58 and its two-hundred day moving average is $15.79. Gold Fields has a fifty-two week low of $12.19 and a fifty-two week high of $18.97.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning lifted its stake in Gold Fields by 15.2% in the 2nd quarter. Creative Planning now owns 54,242 shares of the company’s stock valued at $808,000 after buying an additional 7,155 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Gold Fields in the 3rd quarter valued at about $10,600,000. Range Financial Group LLC purchased a new position in Gold Fields in the 2nd quarter valued at about $1,243,000. Van ECK Associates Corp lifted its stake in Gold Fields by 3.3% in the 3rd quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock valued at $744,566,000 after buying an additional 1,549,372 shares in the last quarter. Finally, RWC Asset Management LLP lifted its stake in Gold Fields by 10.0% in the 2nd quarter. RWC Asset Management LLP now owns 3,588,984 shares of the company’s stock valued at $53,476,000 after buying an additional 324,885 shares in the last quarter. 26.02% of the stock is owned by hedge funds and other institutional investors.

About Gold Fields

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.