Gold Fields (NYSE:GFI) Lowered to “Strong Sell” Rating by Zacks Research

Gold Fields (NYSE:GFI) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Several other brokerages have also recently commented on GFI. Scotiabank dropped their price target on 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. Royal Bank Of Canada decreased their price objective on Gold Fields from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Canaccord Genuity Group raised shares of Gold Fields from a “hold” rating to a “buy” rating and lifted their target price for the stock from $40.25 to $57.25 in a research note on Friday, April 24th. Wall Street Zen raised shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. reduced 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 report on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.75.

Gold Fields Price Performance

NYSE:GFI opened at $33.59 on Tuesday. The stock has a 50 day moving average of $36.30 and a two-hundred day moving average of $44.57. Gold Fields has a 12 month low of $23.86 and a 12 month high of $61.64. The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.34.

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently made changes to their positions in GFI. V Square Quantitative Management LLC acquired a new stake in shares of Gold Fields in the first quarter valued at approximately $25,000. CIBC Private Wealth Group LLC boosted its stake in Gold Fields by 47.1% during the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after buying an additional 273 shares during the last quarter. Bayforest Capital Ltd grew its holdings in Gold Fields by 1,106.7% in the 4th quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock valued at $47,000 after buying an additional 996 shares in the last quarter. Arax Advisory Partners grew its holdings in Gold Fields by 352.6% in the 4th quarter. Arax Advisory Partners now owns 1,136 shares of the company’s stock valued at $50,000 after buying an additional 885 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Gold Fields by 2,152.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,252 shares of the company’s stock valued at $50,000 after buying an additional 2,152 shares in the last quarter. Institutional investors and hedge funds 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.