Gold Fields Limited (GFI) Downgraded by Morgan Stanley to Underweight

Morgan Stanley cut shares of Gold Fields Limited (NYSE:GFI) from an equal weight rating to an underweight rating in a research note issued to investors on Monday morning, The Fly reports.

Other equities research analysts also recently issued reports about the company. BidaskClub raised Gold Fields Limited from a sell rating to a hold rating in a report on Saturday, June 24th. Zacks Investment Research downgraded Gold Fields Limited from a hold rating to a sell rating in a report on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) raised Gold Fields Limited from a sell rating to a neutral rating and decreased their price target for the stock from $3.44 to $3.41 in a report on Thursday, June 29th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $3.41.

Gold Fields Limited (NYSE:GFI) opened at 4.02 on Monday. Gold Fields Limited has a 12-month low of $2.60 and a 12-month high of $4.70. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 32.95 and a beta of -1.07. The stock’s 50 day moving average is $4.33 and its 200 day moving average is $3.87.

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The business also recently declared a semiannual dividend, which was paid on Thursday, September 21st. Investors of record on Friday, September 8th were issued a dividend of $0.0303 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, September 7th.

Several hedge funds and other institutional investors have recently modified their holdings of GFI. BlackRock Inc. lifted its holdings in shares of Gold Fields Limited by 1,114.7% during the first quarter. BlackRock Inc. now owns 57,107,933 shares of the company’s stock worth $201,591,000 after purchasing an additional 52,406,572 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Gold Fields Limited by 45.1% during the second quarter. Van ECK Associates Corp now owns 83,505,034 shares of the company’s stock worth $290,598,000 after purchasing an additional 25,935,929 shares during the period. Majedie Asset Management Ltd lifted its holdings in shares of Gold Fields Limited by 401.1% during the second quarter. Majedie Asset Management Ltd now owns 23,183,035 shares of the company’s stock worth $80,677,000 after purchasing an additional 18,557,035 shares during the period. BT Investment Management Ltd acquired a new stake in shares of Gold Fields Limited during the second quarter worth $6,547,000. Finally, Credit Agricole S A acquired a new stake in shares of Gold Fields Limited during the first quarter worth $5,080,000. 34.04% of the stock is owned by hedge funds and other institutional investors.

Gold Fields Limited Company Profile

Gold Fields Limited (Gold Fields) is a gold mining company. The Company is a producer of gold and a holder of gold reserves. The Company is involved in underground and surface gold and copper mining and related activities, including exploration, development, extraction, processing and smelting. It has approximately eight producing mines located in South Africa, Ghana, Australia and Peru.

The Fly

Analyst Recommendations for Gold Fields Limited (NYSE:GFI)

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