Gold Fields (NYSE:GFI) Stock Rating Lowered by StockNews.com

Gold Fields (NYSE:GFI) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets raised Gold Fields from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $13.50 to $14.00 in a research report on Wednesday, June 26th. Scotiabank dropped their target price on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. JPMorgan Chase & Co. dropped their target price on Gold Fields from $17.50 to $16.70 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Investec raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Bank of America initiated coverage on Gold Fields in a research report on Monday, September 16th. They issued a “buy” rating and a $16.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.93.

Gold Fields Price Performance

NYSE GFI traded up $0.78 during trading hours on Friday, hitting $18.02. The company’s stock had a trading volume of 3,437,747 shares, compared to its average volume of 3,712,256. Gold Fields has a 12 month low of $12.19 and a 12 month high of $18.97. The company’s 50 day simple moving average is $15.17 and its two-hundred day simple moving average is $15.83. The company has a market cap of $16.13 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GFI. First Eagle Investment Management LLC purchased a new position in shares of Gold Fields during the 1st quarter valued at about $85,326,000. Van ECK Associates Corp lifted its holdings in Gold Fields by 6.6% in the 1st quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock worth $750,667,000 after purchasing an additional 2,934,943 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Gold Fields by 145.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,129,278 shares of the company’s stock worth $16,329,000 after purchasing an additional 669,819 shares in the last quarter. South Street Advisors LLC purchased a new position in Gold Fields in the 1st quarter worth approximately $9,260,000. Finally, Mackenzie Financial Corp lifted its holdings in Gold Fields by 28.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock worth $38,878,000 after purchasing an additional 581,730 shares in the last quarter. 26.02% of the stock is owned by hedge funds and other institutional investors.

About Gold Fields

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Canada, Australia, and Peru. It also explores for copper and silver deposits. The company was founded in 1887 and is based in Sandton, South Africa.