Gold Fields (NYSE:GFI) Stock Price Up 5.1% – Still a Buy?

Gold Fields Limited (NYSE:GFI)’s share price rose 5.1% during trading on Monday . The company traded as high as $56.94 and last traded at $56.85. Approximately 1,481,372 shares changed hands during trading, a decline of 57% from the average daily volume of 3,453,109 shares. The stock had previously closed at $54.09.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GFI. Royal Bank Of Canada decreased their price target on shares of Gold Fields to $45.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Weiss Ratings restated a “buy (b)” rating on shares of Gold Fields in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their target price on Gold Fields from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Scotiabank lifted their target price on shares of Gold Fields from $47.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Finally, Zacks Research raised shares of Gold Fields from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $44.00.

Gold Fields Trading Up 5.1%

The company’s 50-day simple moving average is $49.77 and its 200 day simple moving average is $42.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GFI. Penserra Capital Management LLC purchased a new stake in Gold Fields during the 2nd quarter worth about $26,000. Country Trust Bank purchased a new position in shares of Gold Fields during the second quarter worth approximately $26,000. CIBC Private Wealth Group LLC increased its stake in Gold Fields by 47.1% in the third quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock valued at $36,000 after purchasing an additional 273 shares during the period. Archer Investment Corp purchased a new stake in Gold Fields during the 3rd quarter valued at approximately $42,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Gold Fields during the third quarter worth approximately $45,000. 24.81% of the stock is owned by institutional investors and hedge funds.

Gold Fields Company Profile

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.