Gold Fields (NYSE:GFI) Shares Down 7.9% – Should You Sell?

Shares of Gold Fields Limited (NYSE:GFI) fell 7.9% during mid-day trading on Friday . The stock traded as low as $46.90 and last traded at $46.93. 1,058,935 shares were traded during mid-day trading, a decline of 69% from the average session volume of 3,396,647 shares. The stock had previously closed at $50.95.

Analyst Ratings Changes

A number of equities analysts have commented on GFI shares. Scotiabank increased their target price on Gold Fields from $47.00 to $61.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gold Fields in a research note on Thursday, January 22nd. Morgan Stanley cut Gold Fields from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. upped their target price on shares of Gold Fields from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Zacks Research raised shares of Gold Fields from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $44.00.

Gold Fields Stock Down 10.5%

The firm’s 50 day moving average price is $52.36 and its two-hundred day moving average price is $44.79.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors have recently modified their holdings of GFI. CIBC Private Wealth Group LLC lifted its stake in Gold Fields by 47.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after acquiring an additional 273 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of Gold Fields during the third quarter worth approximately $42,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Gold Fields in the 3rd quarter valued at approximately $45,000. Bayforest Capital Ltd raised its stake in Gold Fields by 1,106.7% in the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock valued at $47,000 after buying an additional 996 shares in the last quarter. Finally, Country Trust Bank purchased a new position in shares of Gold Fields in the 2nd quarter valued at about $26,000. 24.81% of the stock is owned by institutional investors and hedge funds.

About Gold Fields

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.