Scotiabank Forecasts Strong Price Appreciation for Gold Fields (NYSE:GFI) Stock

Gold Fields (NYSE:GFI) had its target price hoisted by Scotiabank from $18.00 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 6.67% from the company’s current price.

A number of other brokerages have also commented on GFI. JPMorgan Chase & Co. upped their price objective on Gold Fields from $17.10 to $18.80 and gave the company a “neutral” rating in a report on Wednesday, January 15th. StockNews.com raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.20.

Gold Fields Price Performance

Shares of GFI traded down $0.54 during midday trading on Tuesday, hitting $18.75. The stock had a trading volume of 1,236,579 shares, compared to its average volume of 2,798,313. Gold Fields has a twelve month low of $12.28 and a twelve month high of $19.80. The company has a 50 day simple moving average of $15.92 and a two-hundred day simple moving average of $15.50. The firm has a market cap of $16.78 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 0.30 and a beta of 1.15.

Institutional Investors Weigh In On Gold Fields

Several hedge funds have recently added to or reduced their stakes in the business. FCA Corp TX bought a new position in Gold Fields during the 4th quarter worth $108,000. Net Worth Advisory Group bought a new position in Gold Fields during the fourth quarter worth $136,000. Signaturefd LLC boosted its position in Gold Fields by 19.1% during the fourth quarter. Signaturefd LLC now owns 10,304 shares of the company’s stock valued at $136,000 after acquiring an additional 1,656 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Gold Fields during the 4th quarter valued at about $139,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Gold Fields in the fourth quarter worth approximately $141,000. 24.81% of the stock is currently owned by institutional investors and hedge funds.

Gold Fields Company Profile

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.