Gold Fields (NYSE:GFI) Trading Down 6.7% After Analyst Downgrade

Gold Fields Limited (NYSE:GFI) traded down 6.7% during trading on Monday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $43.06 and last traded at $43.44. 1,167,591 shares changed hands during trading, a decline of 66% from the average session volume of 3,453,016 shares. The stock had previously closed at $46.56.

Several other brokerages also recently weighed in on GFI. Royal Bank Of Canada cut their price target on Gold Fields to $45.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Wall Street Zen lowered shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. HSBC reissued a “hold” rating on shares of Gold Fields in a report on Thursday, October 9th. Canaccord Genuity Group cut Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 price objective for the company. in a research report on Monday, October 13th. Finally, Investec cut shares of Gold Fields from a “buy” rating to a “hold” rating in a report on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Gold Fields currently has an average rating of “Hold” and an average target price of $42.13.

Hedge Funds Weigh In On Gold Fields

Large investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its stake 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. Archer Investment Corp acquired a new position in Gold Fields during the 3rd quarter worth approximately $42,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Gold Fields during the 3rd quarter worth approximately $45,000. Country Trust Bank purchased a new stake in shares of Gold Fields in the second quarter valued at approximately $26,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Gold Fields in the second quarter valued at approximately $26,000. Hedge funds and other institutional investors own 24.81% of the company’s stock.

Gold Fields Trading Down 0.5%

The stock has a fifty day moving average of $41.67 and a two-hundred day moving average of $35.42.

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.