Gold Fields (NYSE:GFI) Hits New 1-Year High – Should You Buy?

Gold Fields Limited (NYSE:GFI) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $57.50 and last traded at $57.36, with a volume of 1092801 shares changing hands. The stock had previously closed at $53.22.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup upped their price objective on Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Morgan Stanley lowered Gold Fields from an “equal weight” rating to an “underweight” rating in a report on Friday. Wall Street Zen raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Canaccord Genuity Group lowered shares of Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 target price for the company. in a research note on Monday, October 13th. Finally, Investec cut Gold Fields from a “buy” rating to a “hold” rating in a research note on Friday, October 10th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.00.

Gold Fields Trading Up 6.5%

The company’s fifty day moving average price is $44.78 and its 200-day moving average price is $38.46.

Institutional Investors Weigh In On Gold Fields

A number of large investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its position in Gold Fields by 84.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company’s stock worth $131,350,000 after acquiring an additional 2,545,579 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Gold Fields by 122.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,308,969 shares of the company’s stock worth $78,323,000 after purchasing an additional 1,822,689 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Gold Fields by 32.9% during the second quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock worth $116,443,000 after purchasing an additional 1,217,594 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Gold Fields in the third quarter valued at approximately $42,963,000. Finally, Man Group plc boosted its position in Gold Fields by 59.9% in the third quarter. Man Group plc now owns 2,229,678 shares of the company’s stock valued at $93,557,000 after buying an additional 835,581 shares during the last quarter. 24.81% of the stock is owned by hedge funds and other institutional investors.

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.