Gold Fields (NYSE:GFI) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Gold Fields (NYSE:GFI) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks.com reports.

Several other analysts have also recently weighed in on GFI. Wall Street Zen raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Monday. Weiss Ratings lowered Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Canaccord Genuity Group upgraded Gold Fields from a “hold” rating to a “buy” rating and raised their target price for the company from $40.25 to $57.25 in a research note on Friday, April 24th. JPMorgan Chase & Co. dropped their price target on Gold Fields from $75.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada reduced their price target on Gold Fields from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Gold Fields currently has an average rating of “Hold” and an average target price of $47.75.

Gold Fields Stock Performance

Shares of GFI opened at $32.28 on Tuesday. The firm’s 50-day moving average price is $36.06 and its 200-day moving average price is $44.49. The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.34. Gold Fields has a 1-year low of $23.86 and a 1-year high of $61.64.

Hedge Funds Weigh In On Gold Fields

Large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in Gold Fields during the 1st quarter valued at approximately $25,000. CIBC Private Wealth Group LLC increased its holdings 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 in the last quarter. Bayforest Capital Ltd raised its position in shares of Gold Fields by 1,106.7% in the 4th quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock worth $47,000 after purchasing an additional 996 shares during the last quarter. Arax Advisory Partners raised its position in shares of Gold Fields by 352.6% in the 4th quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock worth $50,000 after purchasing an additional 885 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Gold Fields by 2,152.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,252 shares of the company’s stock worth $50,000 after purchasing an additional 2,152 shares in the last quarter. 24.81% of the stock is currently owned by hedge funds and other institutional investors.

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.