Gold Fields (NYSE:GFI) Upgraded to Hold at The Goldman Sachs Group

Gold Fields (NYSE:GFI) was upgraded by research analysts at The Goldman Sachs Group to a “hold” rating in a report issued on Wednesday, Zacks reports.

A number of other research analysts also recently issued reports on GFI. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Gold Fields in a research report on Monday, August 31st. Wall Street Zen cut shares of Gold Fields from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Scotiabank decreased their target price on shares of Gold Fields from $60.00 to $52.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. JPMorgan Chase & Co. lowered their target price on shares of Gold Fields from $75.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Finally, Zacks Research lowered shares of Gold Fields from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Gold Fields presently has a consensus rating of “Hold” and an average target price of $52.21.

Gold Fields Price Performance

GFI stock opened at $37.11 on Wednesday. The firm has a 50-day simple moving average of $41.78 and a two-hundred day simple moving average of $40.17. Gold Fields has a one year low of $31.11 and a one year high of $61.64.

Institutional Investors Weigh In On Gold Fields

A number of large investors have recently bought and sold shares of GFI. Blue Trust Inc. increased its holdings in Gold Fields by 4.5% in the 1st quarter. Blue Trust Inc. now owns 4,957 shares of the company’s stock worth $225,000 after buying an additional 215 shares during the period. Manning & Napier Advisors LLC raised its position in Gold Fields by 0.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 79,680 shares of the company’s stock worth $3,617,000 after buying an additional 241 shares during the last quarter. SmartHarvest Portfolios LLC raised its position in Gold Fields by 5.9% during the 1st quarter. SmartHarvest Portfolios LLC now owns 4,868 shares of the company’s stock worth $221,000 after buying an additional 273 shares during the last quarter. Allworth Financial LP lifted its stake in Gold Fields by 11.8% during the 2nd quarter. Allworth Financial LP now owns 2,631 shares of the company’s stock valued at $88,000 after acquiring an additional 277 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Gold Fields by 5.2% during the 3rd quarter. GAMMA Investing LLC now owns 6,858 shares of the company’s stock valued at $248,000 after acquiring an additional 337 shares during the period. Hedge funds and other institutional investors own 24.81% of the company’s stock.

About Gold Fields

Gold Fields Limited (NYSE:GFI) is a global gold mining company engaged in the exploration, development and operation of gold mines. Its primary product is gold, which it produces through a portfolio of underground and open-pit mining operations, along with related processing and refining activities.

The company operates across several major mining regions, including Ghana, South Africa, Australia, Peru and Chile. Its assets include the South Deep mine in South Africa, Tarkwa and Damang in Ghana, St Ives, Agnew, Granny Smith and the Gruyere joint venture in Australia, Cerro Corona in Peru, and Salares Norte in Chile.

Gold Fields traces its origins to the South African gold-mining industry in the late 19th century and has since expanded into an international mining business.