Gold Fields (NYSE:GFI) Reaches New 1-Year High – Here’s Why

Gold Fields Limited (NYSE:GFI) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $48.63 and last traded at $48.34, with a volume of 735291 shares. The stock had previously closed at $45.69.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GFI. Weiss Ratings reissued a “buy (b)” rating on shares of Gold Fields in a research report on Wednesday, October 8th. Canaccord Genuity Group cut shares of Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a research report on Monday, October 13th. HSBC reaffirmed a “hold” rating on shares of Gold Fields in a report on Thursday, October 9th. Citigroup raised their target price on Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, Investec downgraded shares of Gold Fields from a “buy” rating to a “hold” rating in a report on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.13.

Gold Fields Price Performance

The company has a 50 day simple moving average of $42.62 and a 200-day simple moving average of $36.58.

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. Penserra Capital Management LLC purchased a new stake in shares of Gold Fields during the second quarter worth $26,000. Country Trust Bank bought a new stake in shares of Gold Fields during the 2nd quarter valued at $26,000. CIBC Private Wealth Group LLC lifted its holdings in Gold Fields by 47.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after purchasing an additional 273 shares in the last quarter. IFP Advisors Inc lifted its holdings in Gold Fields by 672.1% during the 2nd quarter. IFP Advisors Inc now owns 1,552 shares of the company’s stock worth $37,000 after purchasing an additional 1,351 shares in the last quarter. Finally, Archer Investment Corp bought a new position in Gold Fields in the 3rd quarter worth about $42,000. Institutional investors own 24.81% of the company’s stock.

About Gold Fields

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.