Gold Fields (NYSE:GFI) Shares Gap Up Following Analyst Upgrade

Gold Fields Limited (NYSE:GFI) shares gapped up prior to trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $64.00 to $65.00. The stock had previously closed at $52.89, but opened at $55.39. JPMorgan Chase & Co. currently has an overweight rating on the stock. Gold Fields shares last traded at $52.25, with a volume of 1,614,447 shares trading hands.

A number of other analysts have also recently weighed in on GFI. Canaccord Genuity Group cut shares of Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a research note on Monday, October 13th. Citigroup lifted their price objective on Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Zacks Research lowered Gold Fields from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Investec downgraded Gold Fields from a “buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, HSBC reaffirmed a “hold” rating on shares of Gold Fields in a research note 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. Based on data from MarketBeat, Gold Fields presently has a consensus rating of “Hold” and a consensus target price of $42.25.

Institutional Investors Weigh In On Gold Fields

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its position in shares of Gold Fields by 84.7% during the 2nd 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 during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Gold Fields by 122.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,308,969 shares of the company’s stock valued at $78,323,000 after acquiring an additional 1,822,689 shares during the period. Invesco Ltd. boosted its stake in Gold Fields by 32.9% during the 2nd quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock worth $116,443,000 after acquiring an additional 1,217,594 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Gold Fields during the third quarter valued at approximately $42,963,000. Finally, Man Group plc grew its holdings in Gold Fields by 59.9% during the third quarter. Man Group plc now owns 2,229,678 shares of the company’s stock valued at $93,557,000 after purchasing an additional 835,581 shares during the period. 24.81% of the stock is owned by institutional investors and hedge funds.

Gold Fields Stock Down 3.0%

The company’s 50 day simple moving average is $44.31 and its 200 day simple moving average is $37.96.

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.