JPMorgan Chase & Co. Cuts Gold Fields (NYSE:GFI) Price Target to $55.00

Gold Fields (NYSE:GFI) had its target price cut by JPMorgan Chase & Co. from $75.00 to $55.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada decreased their price objective 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. Canaccord Genuity Group upgraded shares of Gold Fields from a “hold” rating to a “buy” rating and lifted their target price for the company from $40.25 to $57.25 in a report on Friday, April 24th. Zacks Research raised Gold Fields from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Scotiabank decreased their price target on Gold Fields from $60.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.75.

Gold Fields Stock Performance

NYSE GFI opened at $32.00 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average is $37.08 and its two-hundred day moving average is $44.80. Gold Fields has a 12 month low of $23.86 and a 12 month high of $61.64.

Institutional Investors Weigh In On Gold Fields

A number of hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in shares of Gold Fields in the first quarter worth $25,000. CIBC Private Wealth Group LLC increased its position in shares of Gold Fields by 47.1% during the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after acquiring an additional 273 shares during the period. Bayforest Capital Ltd raised its stake in shares of Gold Fields by 1,106.7% in the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock valued at $47,000 after acquiring an additional 996 shares in the last quarter. Arax Advisory Partners raised its stake in shares of Gold Fields by 352.6% in the fourth quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock valued at $50,000 after acquiring an additional 885 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC boosted its holdings in Gold Fields by 24.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 1,552 shares of the company’s stock valued at $68,000 after purchasing an additional 300 shares during the period. 24.81% of the stock is currently owned by institutional investors and hedge funds.

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.