Gold Fields (NYSE:GFI) Reaches New 52-Week High After Analyst Upgrade

Shares of Gold Fields Limited (NYSE:GFI) hit a new 52-week high during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $64.00 to $65.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Gold Fields traded as high as $53.28 and last traded at $52.53, with a volume of 1453600 shares traded. The stock had previously closed at $49.41.

A number of other brokerages also recently weighed in on GFI. Royal Bank Of Canada cut their price target on shares of Gold Fields to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Wall Street Zen upgraded shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Sunday. Canaccord Genuity Group lowered shares of Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a report on Monday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Gold Fields in a research report on Wednesday, October 8th. Finally, Citigroup boosted their price target on shares of Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.25.

Hedge Funds Weigh In On Gold Fields

A number of institutional investors have recently added to or reduced their stakes in GFI. DJE Kapital AG lifted its holdings in shares of Gold Fields by 19.7% in the second quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock worth $105,260,000 after acquiring an additional 742,174 shares during the last quarter. Paradiem LLC bought a new stake in shares of Gold Fields in the 2nd quarter valued at about $2,010,000. U S Global Investors Inc. lifted its stake in shares of Gold Fields by 53.8% in the second quarter. U S Global Investors Inc. now owns 100,000 shares of the company’s stock worth $2,367,000 after acquiring an additional 35,000 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Gold Fields by 32.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,371,211 shares of the company’s stock valued at $183,416,000 after acquiring an additional 1,062,242 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in Gold Fields by 1,244.8% during the 2nd quarter. Osaic Holdings Inc. now owns 248,918 shares of the company’s stock valued at $5,620,000 after purchasing an additional 230,408 shares during the period. 24.81% of the stock is currently owned by institutional investors and hedge funds.

Gold Fields Trading Down 3.0%

The business’s 50-day simple moving average is $44.31 and its two-hundred day simple moving average is $37.96.

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.