Gold Fields (NYSE:GFI) Shares Gap Up Following Analyst Upgrade

Gold Fields Limited (NYSE:GFI)’s stock price gapped up before the market opened on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $64.00 to $65.00. The stock had previously closed at $52.89, but opened at $55.39. JPMorgan Chase & Co. currently has an overweight rating on the stock. Gold Fields shares last traded at $52.25, with a volume of 1,614,447 shares changing hands.

Several other equities analysts also recently commented on GFI. Investec downgraded shares of Gold Fields from a “buy” rating to a “hold” rating in a research note on Friday, October 10th. HSBC reaffirmed a “hold” rating on shares of Gold Fields in a research report on Thursday, October 9th. Royal Bank Of Canada cut their price objective on Gold Fields to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Canaccord Genuity Group cut Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a research note on Monday, October 13th. Finally, Zacks Research downgraded Gold Fields from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Gold Fields currently has an average rating of “Hold” and a consensus target price of $42.25.

Institutional Investors Weigh In On Gold Fields

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DJE Kapital AG lifted its holdings in shares of Gold Fields by 19.7% during the second quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock valued at $105,260,000 after purchasing an additional 742,174 shares during the last quarter. Paradiem LLC bought a new position in Gold Fields during the 2nd quarter valued at approximately $2,010,000. U S Global Investors Inc. raised its stake in Gold Fields by 53.8% during the second quarter. U S Global Investors Inc. now owns 100,000 shares of the company’s stock valued at $2,367,000 after buying an additional 35,000 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Gold Fields by 32.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,371,211 shares of the company’s stock valued at $183,416,000 after buying an additional 1,062,242 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Gold Fields by 1,244.8% in the second quarter. Osaic Holdings Inc. now owns 248,918 shares of the company’s stock worth $5,620,000 after acquiring an additional 230,408 shares in the last quarter. Hedge funds and other institutional investors own 24.81% of the company’s stock.

Gold Fields Stock Down 1.2%

The business has a 50 day moving average price of $44.14 and a 200 day moving average price of $37.87.

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.