Gold Fields Ltd. (GFI) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Gold Fields Ltd. (NYSE:GFI) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. Zacks Investment Research currently has $5.50 price objective on the stock.
According to Zacks, “Gold Fields Limited is one of the world’s largest unhedged gold producers with operating mines in South Africa, Ghana, and Australia. “
A number of other equities research analysts have also issued reports on GFI. Macquarie raised Gold Fields from a neutral rating to an outperform rating in a research report on Friday, September 2nd. Citigroup Inc. reissued a sell rating on shares of Gold Fields in a research report on Thursday, August 18th. JPMorgan Chase & Co. raised Gold Fields from an underweight rating to a neutral rating in a research report on Tuesday, July 12th. Goldman Sachs Group Inc. raised Gold Fields from a neutral rating to a buy rating and set a $5.34 target price on the stock in a research report on Friday, July 8th. Finally, Royal Bank Of Canada raised Gold Fields from a sector perform rating to an outperform rating and lifted their target price for the company from $4.08 to $4.39 in a research report on Wednesday, June 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of C$5.08.
Shares of Gold Fields (NYSE:GFI) opened at 5.04 on Wednesday. The firm’s market capitalization is $4.14 billion. The company has a 50 day moving average of $5.52 and a 200 day moving average of $4.81. Gold Fields has a 52-week low of $2.04 and a 52-week high of $6.60.
The company also recently declared a dividend, which was paid on Monday, September 12th. Investors of record on Friday, September 9th were paid a $0.037 dividend. The ex-dividend date was Wednesday, September 7th. This is an increase from Gold Fields’s previous dividend of $0.03. Gold Fields’s payout ratio is -12.90%.
Hedge funds have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd purchased a new stake in Gold Fields during the first quarter valued at about $245,908,000. American Century Companies Inc. purchased a new stake in Gold Fields during the second quarter valued at about $1,465,000. Royal Bank of Canada increased its stake in Gold Fields by 941.6% in the first quarter. Royal Bank of Canada now owns 156,241 shares of the company’s stock valued at $615,000 after buying an additional 141,241 shares during the period. Moore Capital Management LP purchased a new stake in Gold Fields during the first quarter valued at about $887,000. Finally, Renaissance Technologies LLC increased its stake in Gold Fields by 71.0% in the first quarter. Renaissance Technologies LLC now owns 12,257,500 shares of the company’s stock valued at $48,295,000 after buying an additional 5,087,300 shares during the period. Institutional investors and hedge funds own 36.51% of the company’s stock.
About Gold Fields
Gold Fields Limited (Gold Fields) is a gold mining company. The Company is a producer of gold and a holder of gold reserves. The Company is involved in underground and surface gold and copper mining and related activities, including exploration, development, extraction, processing and smelting. It has approximately eight producing mines located in South Africa, Ghana, Australia and Peru.
Receive News & Stock Ratings for Gold Fields Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gold Fields Ltd. and related stocks with our FREE daily email newsletter.