Gold Fields (NYSE:GFI) Downgraded to “Buy” at StockNews.com

StockNews.com downgraded shares of Gold Fields (NYSE:GFI) from a strong-buy rating to a buy rating in a report released on Friday.

A number of other brokerages have also weighed in on GFI. Bank of America assumed coverage on Gold Fields in a research note on Monday, September 16th. They issued a “buy” rating and a $16.00 target price for the company. Scotiabank lowered their target price on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday. BMO Capital Markets upgraded Gold Fields from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $13.50 to $14.00 in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lowered their price objective on Gold Fields from $17.50 to $16.70 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.93.

Gold Fields Stock Performance

NYSE:GFI opened at $18.02 on Friday. Gold Fields has a 52 week low of $12.19 and a 52 week high of $18.97. The company has a market capitalization of $16.13 billion, a P/E ratio of 9.43, a P/E/G ratio of 0.52 and a beta of 1.18. The stock’s 50 day moving average price is $15.17 and its 200 day moving average price is $15.83.

Gold Fields Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were given a dividend of $0.1692 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 2.2%. Gold Fields’s payout ratio is currently 14.14%.

Hedge Funds Weigh In On Gold Fields

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Gold Fields by 78.4% during the 1st quarter. GAMMA Investing LLC now owns 3,098 shares of the company’s stock worth $49,000 after buying an additional 1,361 shares during the period. LGT Fund Management Co Ltd. bought a new position in shares of Gold Fields during the 2nd quarter valued at about $149,000. Concurrent Investment Advisors LLC bought a new position in shares of Gold Fields during the 2nd quarter valued at about $153,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Gold Fields by 10.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock valued at $172,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Candriam S.C.A. bought a new position in shares of Gold Fields during the 2nd quarter valued at about $189,000. 26.02% of the stock is currently owned by institutional investors and hedge funds.

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.