Gold Fields Stock Rating Downgraded by StockNews.com

Gold Fields (NYSE:GFI) has recently faced a downgrade from stock analysts at StockNews.com. In a report released on Friday, they lowered the company's rating from a "strong-buy" to a "buy".

Analyst Ratings Overview

Other financial analysts have also shared their insights on Gold Fields. Bank of America commenced coverage on the stock on September 16, assigning it a "buy" rating with a price target of $16.00. Meanwhile, BMO Capital Markets upgraded Gold Fields from an "underperform" rating to a "market perform" rating and increased their price objective from $13.50 to $14.00 back on June 26.

Moreover, JPMorgan Chase & Co. adjusted their price target on Gold Fields, bringing it down from $17.50 to $16.70 while maintaining a "neutral" rating. Scotiabank similarly reduced their price target from $18.00 to $17.00 and set a "sector perform" rating on August 26. Lastly, Investec elevated Gold Fields' rating from "hold" to "buy" in their report last Friday.

Currently, the consensus among analysts shows mixed sentiments: one analyst rates the stock as a sell, four classify it as a hold, and three have given it a buy rating. According to MarketBeat.com, Gold Fields holds an overall rating of "Hold" with an average price target of $15.93.

Gold Fields Stock Performance

On Friday, Gold Fields' stock saw an increase of $0.78, pushing its price to $18.02. The trading volume for the day was reported at 3,437,747 shares, slightly below the average volume of 3,712,256. The company’s fifty-day simple moving average stands at $15.17, while its two-hundred-day simple moving average is at $15.83. Over the past year, Gold Fields has recorded a low of $12.19 and a high of $18.97, with a market capitalization of $16.13 billion. Its price-to-earnings (PE) ratio is 9.43 and it has a PEG ratio of 0.52.

Institutional Investor Activity

Recent activities from institutional investors and hedge funds have indicated a shift in holdings concerning Gold Fields. GAMMA Investing LLC boosted its stock ownership by 78.4% during the first quarter, now holding 3,098 shares valued at $49,000 after an additional 1,361 shares were acquired. LGT Fund Management Co Ltd. and Concurrent Investment Advisors LLC have also increased their stakes in Gold Fields during the second quarter, valued at $149,000 and $153,000, respectively. Hennion & Walsh Asset Management Inc. expanded its holdings by 10.4% during the same period. As of now, institutional investors own about 26.02% of Gold Fields' stock.

Company Background

Gold Fields Limited is a global gold producer, with its operations spanning across various countries including Chile, South Africa, Ghana, Canada, Australia, and Peru. Beyond gold, the company also engages in the exploration for copper and silver deposits. Gold Fields was established in 1887 and has its base in Sandton, South Africa.

Gold, Stocks, Rating