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

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

Several other research analysts also recently weighed in on GFI. Wall Street Zen downgraded shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gold Fields in a research note on Wednesday, October 8th. Investec cut shares of Gold Fields from a “buy” rating to a “hold” rating in a research report on Friday, October 10th. Citigroup boosted their target price on shares of Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Finally, Canaccord Genuity Group cut Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 target price for the company. in a research report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Gold Fields currently has an average rating of “Hold” and an average price target of $42.13.

Institutional Trading of Gold Fields

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp grew its stake in Gold Fields by 5.9% in the first quarter. Northern Trust Corp now owns 424,520 shares of the company’s stock valued at $9,378,000 after purchasing an additional 23,840 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Gold Fields during the 1st quarter valued at about $352,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Gold Fields during the 1st quarter valued at about $10,082,000. Aprio Wealth Management LLC bought a new stake in shares of Gold Fields in the 1st quarter valued at approximately $246,000. Finally, Amundi increased its holdings in Gold Fields by 17.8% in the first quarter. Amundi now owns 3,661,529 shares of the company’s stock worth $82,934,000 after buying an additional 554,160 shares during the last quarter. 24.81% of the stock is currently owned by hedge funds and other institutional investors.

Gold Fields Trading Up 1.2%

The firm’s 50-day moving average is $41.67 and its two-hundred day moving average is $35.42.

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.