Gold Fields (NYSE:GFI) Hits New 52-Week High on Analyst Upgrade

Gold Fields Limited (NYSE:GFI) shares hit a new 52-week high during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $64.00 to $65.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Gold Fields traded as high as $53.28 and last traded at $52.53, with a volume of 1453600 shares traded. The stock had previously closed at $49.41.

Several other research firms have also commented on GFI. HSBC reaffirmed a “hold” rating on shares of Gold Fields in a research report on Thursday, October 9th. Investec cut shares of Gold Fields from a “buy” rating to a “hold” rating in a report on Friday, October 10th. Royal Bank Of Canada decreased their price target on shares of Gold Fields to $45.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Scotiabank boosted their price objective on shares of Gold Fields from $30.00 to $47.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. Finally, Zacks Research downgraded shares of Gold Fields from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.25.

Institutional Trading of Gold Fields

Several institutional investors have recently made changes to their positions in GFI. Millennium Management LLC lifted its holdings in Gold Fields by 20.3% in the 1st quarter. Millennium Management LLC now owns 191,482 shares of the company’s stock worth $4,230,000 after purchasing an additional 32,343 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Gold Fields by 2,152.0% in the first quarter. NewEdge Advisors LLC now owns 2,252 shares of the company’s stock worth $50,000 after buying an additional 2,152 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Gold Fields during the first quarter worth $236,000. Jones Financial Companies Lllp bought a new position in shares of Gold Fields during the first quarter worth $268,000. Finally, Strs Ohio purchased a new position in Gold Fields during the first quarter valued at $311,000. Hedge funds and other institutional investors own 24.81% of the company’s stock.

Gold Fields Stock Performance

The company’s 50 day moving average is $43.93 and its two-hundred day moving average is $37.67.

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.