Gold Fields (NYSE:GFI) Raised to “Buy” at Canaccord Genuity Group

Gold Fields (NYSE:GFI) was upgraded by Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat reports. The firm presently has a $57.25 price objective on the stock, up from their prior price objective of $40.25. Canaccord Genuity Group’s target price suggests a potential upside of 25.11% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Scotiabank reduced their price target on Gold Fields from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, March 20th. Zacks Research cut Gold Fields from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Wall Street Zen upgraded Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Sunday, April 19th. JPMorgan Chase & Co. lifted their price target on Gold Fields from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Gold Fields in a research report on Thursday, January 22nd. Five investment analysts have rated the stock with 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 currently has an average rating of “Hold” and an average target price of $49.75.

Gold Fields Price Performance

Shares of NYSE:GFI opened at $45.76 on Friday. Gold Fields has a 52-week low of $19.35 and a 52-week high of $61.64. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.33 and a current ratio of 1.79. The business has a 50-day moving average price of $48.67 and a 200-day moving average price of $46.33.

Institutional Trading of Gold Fields

Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC increased its position in shares of Gold Fields by 47.1% in the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock valued at $36,000 after buying an additional 273 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of Gold Fields in the third quarter valued at approximately $42,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Gold Fields in the third quarter valued at approximately $45,000. Bayforest Capital Ltd increased its position in shares of 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, Arax Advisory Partners increased its position in shares of Gold Fields by 352.6% in the fourth quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock valued at $50,000 after buying an additional 885 shares in the last quarter. 24.81% of the stock is currently owned by hedge funds and other institutional investors.

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.