Gold Fields (NYSE:GFI) Rating Increased to Buy at Canaccord Genuity Group

Gold Fields (NYSE:GFI) was upgraded by investment analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $57.25 target price on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 30.25% from the stock’s current price.

A number of other research firms have also recently issued reports on GFI. JPMorgan Chase & Co. raised their target price on shares of Gold Fields from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Morgan Stanley lowered shares of Gold Fields from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 23rd. Zacks Research cut shares of Gold Fields from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings restated a “buy (b)” rating on shares of Gold Fields in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Sunday, April 19th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $49.75.

Gold Fields Stock Down 3.4%

GFI stock opened at $43.96 on Friday. Gold Fields has a one year low of $19.35 and a one year high of $61.64. The company has a fifty day moving average price of $48.84 and a two-hundred day moving average price of $46.27. The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.34.

Hedge Funds Weigh In On Gold Fields

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its position in Gold Fields by 4.5% during the first quarter. Blue Trust Inc. now owns 4,957 shares of the company’s stock worth $225,000 after acquiring an additional 215 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Gold Fields by 1.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,003 shares of the company’s stock valued at $786,000 after purchasing an additional 251 shares during the period. Harbour Capital Advisors LLC grew its position in shares of Gold Fields by 0.5% during the 4th quarter. Harbour Capital Advisors LLC now owns 50,525 shares of the company’s stock worth $2,201,000 after purchasing an additional 265 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Gold Fields by 3.6% during the 4th 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 in the last quarter. Finally, SmartHarvest Portfolios LLC increased its holdings in shares of Gold Fields by 5.9% during the first quarter. SmartHarvest Portfolios LLC now owns 4,868 shares of the company’s stock worth $221,000 after purchasing an additional 273 shares during the period. 24.81% of the stock is currently owned by institutional investors and hedge funds.

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.