Gold Fields (NYSE:GFI) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Gold Fields (NYSE:GFI) from a strong-buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

GFI has been the topic of several other reports. Morgan Stanley lowered shares of Gold Fields from an “equal weight” rating to an “underweight” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Gold Fields in a report on Thursday, January 22nd. Scotiabank lowered their price objective on shares of 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. JPMorgan Chase & Co. raised their price objective on Gold Fields from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Finally, Wall Street Zen upgraded Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.88.

Gold Fields Trading Down 1.1%

Shares of NYSE:GFI opened at $47.59 on Tuesday. The firm’s 50 day simple moving average is $50.84 and its 200 day simple moving average is $45.54. Gold Fields has a fifty-two week low of $19.35 and a fifty-two week high of $61.64.

Gold Fields Dividend Announcement

The business also recently declared a special dividend, which was paid on Thursday, March 26th. Shareholders of record on Friday, March 13th were paid a $1.4419 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a yield of 633.0%.

Institutional Investors Weigh In On Gold Fields

Several large investors have recently made changes to their positions in GFI. Goldman Sachs Group Inc. lifted its position in Gold Fields by 69.3% in the 4th 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 in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Gold Fields by 39.2% in 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 purchasing an additional 1,714,442 shares during the period. Man Group plc increased its holdings in Gold Fields by 63.7% during the 4th quarter. Man Group plc now owns 3,650,799 shares of the company’s stock worth $159,394,000 after purchasing an additional 1,421,121 shares in the last quarter. Invesco Ltd. raised its stake in shares of Gold Fields by 32.9% in the 2nd quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock valued at $116,443,000 after purchasing an additional 1,217,594 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Gold Fields by 211.0% in the 4th quarter. AQR Capital Management LLC now owns 1,791,823 shares of the company’s stock valued at $78,231,000 after purchasing an additional 1,215,647 shares during the period. Institutional investors own 24.81% of the company’s stock.

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.