Gold Fields (NYSE:GFI) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Gold Fields (NYSE:GFI) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research firms also recently commented on GFI. Investec downgraded Gold Fields from a “buy” rating to a “hold” rating in a research report on Friday, October 10th. Wall Street Zen cut Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Weiss Ratings restated a “buy (b)” rating on shares of Gold Fields in a research note on Wednesday, October 8th. Canaccord Genuity Group lowered shares of Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a report on Monday, October 13th. Finally, HSBC reiterated a “hold” rating on shares of Gold Fields in a research report on Thursday, October 9th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Gold Fields presently has an average rating of “Hold” and a consensus price target of $42.13.

Gold Fields Stock Performance

Shares of GFI opened at $43.66 on Monday. Gold Fields has a 12 month low of $13.15 and a 12 month high of $47.60. The company has a 50-day moving average price of $41.75 and a two-hundred day moving average price of $35.48.

Institutional Trading of Gold Fields

Hedge funds and other institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC acquired a new position in Gold Fields during the 2nd quarter worth $26,000. Country Trust Bank bought a new stake in shares of Gold Fields during the second quarter worth $26,000. CIBC Private Wealth Group LLC lifted its stake in shares of Gold Fields by 47.1% during the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock valued at $36,000 after acquiring an additional 273 shares during the period. IFP Advisors Inc boosted its holdings in Gold Fields by 672.1% in the second quarter. IFP Advisors Inc now owns 1,552 shares of the company’s stock valued at $37,000 after acquiring an additional 1,351 shares during the last quarter. Finally, Archer Investment Corp bought a new position in Gold Fields in the third quarter valued at about $42,000. Institutional investors and hedge funds own 24.81% of the company’s stock.

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.