Scotiabank Cuts Gold Fields (NYSE:GFI) Price Target to $52.00

Gold Fields (NYSE:GFI) had its price target reduced by Scotiabank from $60.00 to $52.00 in a report issued on Tuesday, Marketbeat reports. They currently have a sector perform rating on the stock.

Several other equities research analysts have also weighed in on the company. Weiss Ratings lowered Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Canaccord Genuity Group upgraded shares of Gold Fields from a “hold” rating to a “buy” rating and lifted their target price for the stock from $40.25 to $57.25 in a research note on Friday, April 24th. Wall Street Zen lowered shares of Gold Fields from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Zacks Research upgraded shares of Gold Fields from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Royal Bank Of Canada lowered their target price on shares of Gold Fields from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Five equities research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.75.

Gold Fields Stock Down 2.7%

Shares of NYSE GFI opened at $32.08 on Tuesday. The stock has a fifty day simple moving average of $37.34 and a two-hundred day simple moving average of $44.89. Gold Fields has a 1-year low of $23.41 and a 1-year high of $61.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.79 and a quick ratio of 1.33.

Hedge Funds Weigh In On Gold Fields

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Gold Fields by 4.5% in the 1st quarter. Blue Trust Inc. now owns 4,957 shares of the company’s stock worth $225,000 after purchasing an additional 215 shares in the last quarter. Manning & Napier Advisors LLC grew its position in shares of Gold Fields by 0.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 79,680 shares of the company’s stock valued at $3,617,000 after purchasing an additional 241 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Gold Fields by 1.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,003 shares of the company’s stock worth $786,000 after purchasing an additional 251 shares during the period. Harbour Capital Advisors LLC increased its holdings in shares of Gold Fields by 0.5% in the fourth quarter. Harbour Capital Advisors LLC now owns 50,525 shares of the company’s stock worth $2,201,000 after purchasing an additional 265 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Gold Fields by 3.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,751 shares of the company’s stock worth $338,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 24.81% of the company’s stock.

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.