Gold Fields (NYSE:GFI) Price Target Cut to $52.00 by Analysts at Scotiabank

Gold Fields (NYSE:GFI) had its price objective reduced by equities research analysts at Scotiabank from $60.00 to $52.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 56.87% from the company’s previous close.

GFI has been the subject of several other reports. Weiss Ratings cut shares of Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Zacks Research raised Gold Fields from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Wall Street Zen cut shares of Gold Fields from a “buy” rating to a “hold” rating in a research report on Sunday. Canaccord Genuity Group raised shares of Gold Fields from a “hold” rating to a “buy” rating and upped their price target for the company from $40.25 to $57.25 in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reduced their target price on Gold Fields from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $49.18.

Gold Fields Trading Down 1.1%

Shares of Gold Fields stock traded down $0.38 during trading on Tuesday, hitting $33.15. 3,596,327 shares of the company were exchanged, compared to its average volume of 3,518,159. The firm’s fifty day moving average price is $38.02 and its 200 day moving average price is $45.17. Gold Fields has a 1-year low of $23.41 and a 1-year high of $61.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.79 and a quick ratio of 1.33.

Institutional Investors Weigh In On Gold Fields

Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Gold Fields by 3.4% in the fourth quarter. Van ECK Associates Corp now owns 35,483,903 shares of the company’s stock worth $1,549,227,000 after buying an additional 1,180,634 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Gold Fields by 39.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,085,653 shares of the company’s stock worth $265,700,000 after purchasing an additional 1,714,442 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Gold Fields by 69.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,384,047 shares of the company’s stock worth $191,407,000 after buying an additional 1,794,124 shares in the last quarter. Man Group plc grew its holdings in shares of Gold Fields by 63.7% in the fourth quarter. Man Group plc now owns 3,650,799 shares of the company’s stock valued at $159,394,000 after purchasing an additional 1,421,121 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Gold Fields by 62.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,371,649 shares of the company’s stock valued at $114,147,000 after purchasing an additional 910,580 shares during the last quarter. 24.81% of the stock is currently owned by institutional investors.

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.