Gold Fields (NYSE:GFI) Price Target Cut to $52.00 by Analysts at Scotiabank

Gold Fields (NYSE:GFI) had its price target decreased by stock analysts at Scotiabank from $60.00 to $52.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 56.87% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada decreased their price objective on shares of Gold Fields from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Wall Street Zen cut shares of Gold Fields from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings cut shares of Gold Fields from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Canaccord Genuity Group upgraded shares of Gold Fields from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.25 to $57.25 in a report on Friday, April 24th. Finally, Zacks Research raised Gold Fields from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.18.

Gold Fields Price Performance

NYSE:GFI traded down $0.38 during midday trading on Tuesday, hitting $33.15. The company’s stock had a trading volume of 3,596,327 shares, compared to its average volume of 3,518,159. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.79 and a quick ratio of 1.33. Gold Fields has a fifty-two week low of $23.41 and a fifty-two week high of $61.64. The firm’s 50 day moving average is $38.02 and its 200-day moving average is $45.17.

Institutional Trading of Gold Fields

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Gold Fields by 4.5% in the first quarter. Blue Trust Inc. now owns 4,957 shares of the company’s stock valued at $225,000 after acquiring an additional 215 shares during the period. Manning & Napier Advisors LLC grew its holdings in shares of Gold Fields by 0.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 79,680 shares of the company’s stock worth $3,617,000 after purchasing an additional 241 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Gold Fields by 1.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,003 shares of the company’s stock valued at $786,000 after buying an additional 251 shares during the period. Harbour Capital Advisors LLC grew its stake in Gold Fields by 0.5% during the 4th quarter. Harbour Capital Advisors LLC now owns 50,525 shares of the company’s stock valued at $2,201,000 after purchasing an additional 265 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Gold Fields by 3.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,751 shares of the company’s stock worth $338,000 after purchasing an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 24.81% of the company’s stock.

About Gold Fields

Gold Fields (NYSE: GFI) is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company’s core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.