Scotiabank Cuts Gold Fields (NYSE:GFI) Price Target to $60.00

Gold Fields (NYSE:GFI) had its price objective lowered by Scotiabank from $61.00 to $60.00 in a research note published on Friday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their price target on Gold Fields from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Zacks Research raised shares of Gold Fields from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Morgan Stanley downgraded shares of Gold Fields from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 23rd. Citigroup increased their price target on shares of Gold Fields from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Finally, 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 report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $43.88.

Gold Fields Price Performance

GFI opened at $39.07 on Friday. The stock has a fifty day moving average price of $52.11 and a 200 day moving average price of $45.21. Gold Fields has a 1 year low of $19.35 and a 1 year high of $61.64.

Gold Fields Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Thursday, March 26th. Stockholders of record on Friday, March 13th will be paid a $1.4419 dividend. The ex-dividend date is Friday, March 13th. This represents a dividend yield of 633.0%.

Institutional Trading of Gold Fields

Hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC increased its position in Gold Fields by 47.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after buying an additional 273 shares during the period. Archer Investment Corp acquired a new stake in shares of Gold Fields in the third quarter worth $42,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Gold Fields in the third quarter worth $45,000. Bayforest Capital Ltd increased its position in Gold Fields by 1,106.7% during the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock worth $47,000 after acquiring an additional 996 shares during the period. Finally, Country Trust Bank bought a new position in Gold Fields during the second quarter worth $26,000. 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.