Scotiabank Issues Pessimistic Forecast for Gold Fields (NYSE:GFI) Stock Price

Gold Fields (NYSE:GFI) had its price target dropped by investment analysts at Scotiabank from $61.00 to $60.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 53.56% from the company’s current price.

GFI has been the subject of a number of other research reports. Royal Bank Of Canada decreased their price objective on shares of Gold Fields to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. Zacks Research upgraded shares of Gold Fields from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Citigroup lifted their price target on Gold Fields from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Wall Street Zen raised Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, JPMorgan Chase & Co. upped their price objective on Gold Fields from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.88.

Gold Fields Price Performance

NYSE:GFI opened at $39.07 on Friday. Gold Fields has a 1-year low of $19.35 and a 1-year high of $61.64. The firm has a fifty day simple moving average of $52.11 and a 200 day simple moving average of $45.14.

Institutional Trading of Gold Fields

Several hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in Gold Fields by 3.4% in the 4th quarter. Van ECK Associates Corp now owns 35,483,903 shares of the company’s stock valued at $1,549,227,000 after buying an additional 1,180,634 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Gold Fields by 39.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 6,085,653 shares of the company’s stock worth $265,700,000 after buying an additional 1,714,442 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Gold Fields by 84.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company’s stock worth $131,350,000 after buying an additional 2,545,579 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Gold Fields by 32.9% during the second quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock worth $116,443,000 after buying an additional 1,217,594 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Gold Fields by 69.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,384,047 shares of the company’s stock valued at $191,407,000 after acquiring an additional 1,794,124 shares during the period. 24.81% of the stock is 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.