Gold Fields (NYSE:GFI) Hits New 1-Year High After Analyst Upgrade

Shares of Gold Fields Limited (NYSE:GFI) hit a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $64.00 to $65.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Gold Fields traded as high as $53.28 and last traded at $52.53, with a volume of 1453600 shares traded. The stock had previously closed at $49.41.

Several other research firms have also recently weighed in on GFI. Citigroup raised their price target on Gold Fields from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Royal Bank Of Canada lowered their target price on Gold Fields to $45.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. HSBC restated a “hold” rating on shares of Gold Fields in a research report on Thursday, October 9th. Scotiabank upped their price target on shares of Gold Fields from $30.00 to $47.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Finally, Zacks Research cut shares of Gold Fields from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Gold Fields currently has an average rating of “Hold” and a consensus target price of $42.25.

Hedge Funds Weigh In On Gold Fields

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

Gold Fields Price Performance

The stock’s 50 day simple moving average is $43.93 and its 200 day simple moving average is $37.67.

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.