Gold Fields (NYSE:GFI) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Gold Fields (NYSE:GFI) from a hold rating to a buy rating in a report issued on Tuesday morning.

A number of other brokerages have also recently issued reports on GFI. Scotiabank reduced their price objective on shares of Gold Fields from $18.00 to $17.00 and set a sector perform rating for the company in a research note on Friday, June 14th. BMO Capital Markets raised Gold Fields from an underperform rating to a market perform rating and raised their price target for the company from $13.50 to $14.00 in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Gold Fields from $17.50 to $16.70 and set a neutral rating for the company in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $15.90.

Gold Fields Trading Up 3.7 %

Shares of NYSE:GFI opened at $16.74 on Tuesday. The stock has a 50 day moving average of $15.66 and a 200 day moving average of $15.60. The company has a market cap of $14.98 billion, a PE ratio of 8.25 and a beta of 1.16. Gold Fields has a 12-month low of $10.31 and a 12-month high of $18.97. The company has a current ratio of 1.25, a quick ratio of 0.70 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On Gold Fields

Several large investors have recently made changes to their positions in GFI. First Eagle Investment Management LLC purchased a new position in Gold Fields during the 1st quarter valued at approximately $85,326,000. Van ECK Associates Corp boosted its position in shares of Gold Fields by 6.6% during the 1st quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock valued at $750,667,000 after acquiring an additional 2,934,943 shares during the last quarter. RWC Asset Advisors US LLC grew its holdings in shares of Gold Fields by 19.3% in the fourth quarter. RWC Asset Advisors US LLC now owns 12,810,699 shares of the company’s stock valued at $185,243,000 after purchasing an additional 2,070,427 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Gold Fields by 145.8% in the fourth 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 during the last quarter. Finally, South Street Advisors LLC purchased a new stake in Gold Fields during the first quarter valued at $9,260,000. 26.02% of the stock is owned by 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.