The Goldman Sachs Group Upgrades Gold Fields (NYSE:GFI) to “Hold”

Gold Fields (NYSE:GFI – Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group to a “hold” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other research analysts have also recently weighed in on GFI. Scotiabank lowered their price target on shares of Gold Fields from $60.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Zacks Research lowered shares of Gold Fields from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. cut their price objective on shares of Gold Fields from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Wall Street Zen downgraded shares of Gold Fields from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Royal Bank Of Canada boosted their target price on shares of Gold Fields from $49.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.21.

Get Our Latest Stock Analysis on Gold Fields

Gold Fields Stock Performance

Shares of NYSE:GFI opened at $37.11 on Wednesday. Gold Fields has a 52-week low of $31.11 and a 52-week high of $61.64. The business has a fifty day moving average of $41.78 and a two-hundred day moving average of $40.17.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Gold Fields by 62.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,371,649 shares of the company’s stock worth $114,147,000 after purchasing an additional 910,580 shares during the period. Lazard Asset Management LLC raised its holdings in Gold Fields by 8.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,280,861 shares of the company’s stock valued at $58,151,000 after buying an additional 99,983 shares during the period. Royal Bank of Canada raised its holdings in Gold Fields by 2.5% in the 1st quarter. Royal Bank of Canada now owns 1,061,295 shares of the company’s stock valued at $48,182,000 after buying an additional 25,635 shares during the period. Bank of America Corp DE raised its holdings in Gold Fields by 32.1% in the 1st quarter. Bank of America Corp DE now owns 771,791 shares of the company’s stock valued at $35,039,000 after buying an additional 187,755 shares during the period. Finally, Groupe la Francaise lifted its position in Gold Fields by 2.3% in the second quarter. Groupe la Francaise now owns 585,000 shares of the company’s stock valued at $19,667,000 after buying an additional 13,000 shares during the last quarter. Hedge funds and other institutional investors own 24.81% of the company’s stock.

About Gold Fields

(Get Free Report)

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.

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