Gold Fields (NYSE:GFI) Stock Rating Upgraded by The Goldman Sachs Group

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

Other equities analysts have also issued reports about the stock. Scotiabank reduced their target price 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 downgraded shares of Gold Fields from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Wall Street Zen lowered Gold Fields from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. JPMorgan Chase & Co. lowered their price target on Gold Fields from $75.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Gold Fields in a research note on Monday, August 31st. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $52.21.

Gold Fields Trading Up 4.4%

Shares of GFI opened at $37.11 on Wednesday. Gold Fields has a 1-year low of $31.11 and a 1-year high of $61.64. The company has a 50-day moving average of $41.78 and a 200 day moving average of $40.17.

Hedge Funds Weigh In On Gold Fields

A number of hedge funds and other institutional investors have recently modified their holdings of GFI. Oakmont Investment Advisors Inc. purchased a new stake in Gold Fields during the second quarter worth $912,000. Crescent Grove Advisors LLC bought a new stake in Gold Fields during the 1st quarter valued at $1,795,000. Engineers Gate Manager LP boosted its position in Gold Fields by 51.0% during the 2nd quarter. Engineers Gate Manager LP now owns 87,455 shares of the company’s stock valued at $2,938,000 after acquiring an additional 29,555 shares in the last quarter. Bank of America Corp DE boosted its position in Gold Fields by 32.1% during the 1st quarter. Bank of America Corp DE now owns 771,791 shares of the company’s stock valued at $35,039,000 after acquiring an additional 187,755 shares in the last quarter. Finally, Euro Pacific Asset Management LLC increased its holdings in shares of Gold Fields by 371.9% in the 1st quarter. Euro Pacific Asset Management LLC now owns 64,497 shares of the company’s stock valued at $3,117,000 after acquiring an additional 50,830 shares during the period. 24.81% of the stock is currently owned by institutional investors.

Gold Fields Company Profile

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.