Bank of America Begins Coverage on Gold Fields (NYSE:GFI)

Bank of America initiated coverage on shares of Gold Fields (NYSE:GFI) in a research note issued on Monday, StockNewsAPI reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. Bank of America‘s target price points to a potential upside of 10.27% from the company’s current price.

GFI has been the topic of a number of other research reports. BMO Capital Markets upgraded shares of Gold Fields from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $13.50 to $14.00 in a report on Wednesday, June 26th. StockNews.com upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price target 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. Finally, Scotiabank reduced their price objective on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.93.

Gold Fields Stock Performance

Shares of GFI stock traded up $0.30 during midday trading on Monday, reaching $14.51. 996,756 shares of the stock were exchanged, compared to its average volume of 3,809,978. Gold Fields has a 1 year low of $10.31 and a 1 year high of $18.97. The company’s 50 day moving average is $15.50 and its two-hundred day moving average is $15.73. The company has a quick ratio of 0.70, a current ratio of 1.77 and a debt-to-equity ratio of 0.33.

Institutional Trading of Gold Fields

Several institutional investors have recently added to or reduced their stakes in GFI. Van ECK Associates Corp raised its holdings in shares of Gold Fields by 6.6% during the first quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock valued at $750,667,000 after purchasing an additional 2,934,943 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in Gold Fields during the 1st quarter valued at $85,326,000. RWC Asset Management LLP lifted its holdings in shares of Gold Fields by 10.0% during the 2nd quarter. RWC Asset Management LLP now owns 3,588,984 shares of the company’s stock valued at $53,476,000 after buying an additional 324,885 shares during the period. Schroder Investment Management Group boosted its stake in shares of Gold Fields by 4.5% in the 4th quarter. Schroder Investment Management Group now owns 3,240,748 shares of the company’s stock worth $46,861,000 after buying an additional 139,205 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Gold Fields by 28.7% in the second quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock worth $38,878,000 after acquiring an additional 581,730 shares during the period. 26.02% of the stock is currently 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.