Gold Fields (NYSE:GFI) Stock Rating Lowered by Zacks Research

Gold Fields (NYSE:GFI) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on GFI. Wall Street Zen raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Scotiabank decreased their price target on shares of Gold Fields from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, March 20th. JPMorgan Chase & Co. lifted their price objective 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 downgraded Gold Fields from an “equal weight” rating to an “underweight” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gold Fields in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Gold Fields currently has a consensus rating of “Hold” and a consensus target price of $43.88.

Gold Fields Trading Up 6.0%

NYSE GFI opened at $48.13 on Tuesday. Gold Fields has a 52 week low of $19.35 and a 52 week high of $61.64. The company has a 50 day moving average price of $50.93 and a 200 day moving average price of $45.53.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted 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 buying an additional 32,343 shares during the last quarter. NewEdge Advisors LLC increased its stake in Gold Fields by 2,152.0% during the 1st 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 acquired a new position in shares of Gold Fields during the first quarter valued at approximately $236,000. Jones Financial Companies Lllp purchased a new position in shares of Gold Fields in the first quarter valued at approximately $268,000. Finally, Franklin Resources Inc. lifted its position in shares of Gold Fields by 14.0% in the second quarter. Franklin Resources Inc. now owns 36,787 shares of the company’s stock valued at $871,000 after acquiring an additional 4,522 shares in the last quarter. Institutional investors and hedge funds 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.