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

Gold Fields Limited (NYSE:GFI)’s share price gapped up before the market opened 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.

Other analysts have also issued reports about the stock. Wall Street Zen raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Investec cut shares of Gold Fields from a “buy” rating to a “hold” rating in a report on Friday, October 10th. Royal Bank Of Canada cut their target price on shares of Gold Fields to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Zacks Research downgraded Gold Fields from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Canaccord Genuity Group lowered Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 price objective on the stock. in a research note on Monday, October 13th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.25.

Institutional Investors Weigh In On Gold Fields

Several hedge funds have recently bought and sold shares of GFI. Arrowstreet Capital Limited Partnership grew its position in shares of Gold Fields by 84.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company’s stock valued at $131,350,000 after purchasing an additional 2,545,579 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in 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 purchasing an additional 1,822,689 shares during the period. Invesco Ltd. grew its holdings in 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 buying an additional 1,217,594 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Gold Fields during the 3rd quarter worth $42,963,000. Finally, Man Group plc lifted its holdings in shares of Gold Fields by 59.9% during the third quarter. Man Group plc now owns 2,229,678 shares of the company’s stock worth $93,557,000 after buying an additional 835,581 shares in the last quarter. 24.81% of the stock is currently owned by institutional investors and hedge funds.

Gold Fields Trading Up 1.8%

The stock has a fifty day moving average price of $44.53 and a two-hundred day moving average price of $38.06.

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.