Gold Fields (NYSE:GFI) Cut to “Hold” at Zacks Research

Gold Fields (NYSE:GFI) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently commented on GFI. Morgan Stanley downgraded shares of Gold Fields from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 23rd. Wall Street Zen upgraded shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. JPMorgan Chase & Co. raised their price target on Gold Fields from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Scotiabank decreased their price target on Gold Fields from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, March 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gold Fields in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.88.

Gold Fields Stock Up 6.0%

Shares of NYSE:GFI opened at $48.13 on Tuesday. Gold Fields has a fifty-two week low of $19.35 and a fifty-two week high of $61.64. The firm’s 50 day moving average price is $50.93 and its 200 day moving average price is $45.53.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Up Capital Management Inc. acquired a new stake in shares of Gold Fields in the fourth quarter valued at approximately $5,570,000. Rockefeller Capital Management L.P. increased its holdings in shares of Gold Fields by 1,604.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,096 shares of the company’s stock valued at $92,000 after acquiring an additional 1,973 shares during the period. World Investment Advisors raised its position in Gold Fields by 65.0% in the 4th quarter. World Investment Advisors now owns 16,056 shares of the company’s stock valued at $701,000 after purchasing an additional 6,325 shares during the last quarter. Larry Mathis Financial Planning LLC acquired a new stake in Gold Fields during the 4th quarter worth $245,000. Finally, Corient Private Wealth LLC grew its position in Gold Fields by 1.1% during the 4th quarter. Corient Private Wealth LLC now owns 47,993 shares of the company’s stock worth $2,095,000 after purchasing an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 24.81% of the company’s stock.

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.