Gold Fields (NYSE:GFI) Upgraded to “Strong-Buy” by StockNews.com

Gold Fields (NYSE:GFI) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Investec upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Bank of America began coverage on shares of Gold Fields in a research report on Monday, September 16th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Scotiabank cut their price objective on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a report on Monday, August 26th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Gold Fields currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.93.

Gold Fields Stock Performance

Shares of GFI traded down $0.27 during trading hours on Monday, hitting $17.24. The stock had a trading volume of 2,157,957 shares, compared to its average volume of 3,685,984. The firm has a 50-day moving average price of $15.40 and a 200 day moving average price of $15.85. Gold Fields has a fifty-two week low of $12.19 and a fifty-two week high of $18.97. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.52 and a beta of 1.18.

Hedge Funds Weigh In On Gold Fields

Several institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new stake in shares of Gold Fields during the 1st quarter valued at approximately $665,000. Primoris Wealth Advisors LLC acquired a new position in shares of Gold Fields in the 1st quarter valued at $446,000. Significant Wealth Partners LLC purchased a new position in shares of Gold Fields during the 1st quarter worth $818,000. Fortis Capital Advisors LLC acquired a new stake in shares of Gold Fields during the 1st quarter worth about $462,000. Finally, First Eagle Investment Management LLC purchased a new stake in Gold Fields in the 1st quarter valued at about $85,326,000. 26.02% of the stock is currently owned by institutional investors and hedge funds.

About Gold Fields

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Canada, Australia, and Peru. It also explores for copper and silver deposits. The company was founded in 1887 and is based in Sandton, South Africa.