Gold Fields (NYSE:GFI) Price Target Cut to $60.00 by Analysts at Scotiabank

Gold Fields (NYSE:GFI) had its price target cut by research analysts at Scotiabank from $61.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential upside of 53.18% from the stock’s current price.

A number of other research firms have also issued reports on GFI. Morgan Stanley lowered Gold Fields from an “equal weight” rating to an “underweight” rating in a report on Friday, January 23rd. Royal Bank Of Canada decreased their price objective on shares of Gold Fields to $45.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Wall Street Zen upgraded shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Zacks Research upgraded shares of Gold Fields from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, Citigroup raised their price objective on Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.88.

Gold Fields Stock Performance

GFI traded down $1.58 on Friday, reaching $39.17. The company’s stock had a trading volume of 1,382,026 shares, compared to its average volume of 3,475,677. The stock has a 50 day moving average of $52.24 and a two-hundred day moving average of $45.03. Gold Fields has a fifty-two week low of $19.35 and a fifty-two week high of $61.64.

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently modified their holdings of GFI. Arrowstreet Capital Limited Partnership boosted its position in shares of Gold Fields by 84.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company’s stock worth $131,350,000 after buying an additional 2,545,579 shares during the period. Goldman Sachs Group Inc. grew its stake 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 purchasing an additional 1,794,124 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Gold Fields by 39.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,085,653 shares of the company’s stock valued at $265,700,000 after purchasing an additional 1,714,442 shares during the period. Man Group plc lifted its holdings in Gold Fields by 63.7% in the fourth quarter. Man Group plc now owns 3,650,799 shares of the company’s stock worth $159,394,000 after purchasing an additional 1,421,121 shares during the period. Finally, Invesco Ltd. grew its position in Gold Fields by 32.9% in the 2nd quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock valued at $116,443,000 after buying an additional 1,217,594 shares in the last quarter. Institutional investors own 24.81% of the company’s stock.

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.