Zacks Research Downgrades Gold Fields (NYSE:GFI) to Strong Sell

Gold Fields (NYSE:GFI) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

A number of other research firms have also recently commented on GFI. JPMorgan Chase & Co. lifted their price target on Gold Fields from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gold Fields in a report on Thursday, January 22nd. Wall Street Zen cut Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Monday. Morgan Stanley cut Gold Fields from an “equal weight” rating to an “underweight” rating in a report on Friday, January 23rd. Finally, Scotiabank reduced their price target on Gold Fields from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, March 20th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Gold Fields presently has an average rating of “Hold” and an average target price of $49.75.

Gold Fields Trading Up 2.4%

NYSE:GFI opened at $42.50 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.34. The stock’s 50-day simple moving average is $47.88 and its 200 day simple moving average is $46.34. Gold Fields has a 52-week low of $19.35 and a 52-week high of $61.64.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors have recently made changes to their positions in GFI. V Square Quantitative Management LLC bought a new stake in shares of Gold Fields during the first quarter worth approximately $25,000. CIBC Private Wealth Group LLC boosted its holdings in shares of 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 acquiring an additional 273 shares during the period. Archer Investment Corp bought a new stake in shares of Gold Fields during the third quarter worth approximately $42,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Gold Fields during the third quarter worth approximately $45,000. Finally, Bayforest Capital Ltd boosted its holdings in shares of Gold Fields by 1,106.7% during the fourth quarter. Bayforest Capital Ltd now owns 1,086 shares of the company’s stock worth $47,000 after acquiring an additional 996 shares during the period. Institutional investors own 24.81% of the company’s stock.

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.