JPMorgan Chase Lowers Gold Fields (GFI) Price Target to $6.31

Gold Fields (NYSE:GFI) had its price objective reduced by investment analysts at JPMorgan Chase from $7.06 to $6.31 in a research report issued on Monday. The firm presently has an “overweight” rating on the stock. JPMorgan Chase’s target price would indicate a potential upside of 61.79% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada upgraded Gold Fields from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 3rd. Morgan Stanley upgraded Gold Fields from an “underweight” rating to an “equal weight” rating in a report on Tuesday, March 20th. Zacks Investment Research downgraded Gold Fields from a “buy” rating to a “hold” rating in a report on Wednesday, January 24th. Finally, HSBC upgraded Gold Fields from a “reduce” rating to a “hold” rating in a report on Friday, January 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Gold Fields has an average rating of “Hold” and a consensus price target of $5.53.

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Shares of NYSE GFI opened at $3.90 on Monday. The company has a current ratio of 1.30, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. Gold Fields has a 1-year low of $3.06 and a 1-year high of $4.70. The stock has a market cap of $3,203.98, a price-to-earnings ratio of 16.25, a P/E/G ratio of 1.99 and a beta of -0.85.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantitative Investment Management LLC purchased a new position in shares of Gold Fields in the 4th quarter valued at about $129,000. Lazard Asset Management LLC increased its holdings in shares of Gold Fields by 32.7% in the 4th quarter. Lazard Asset Management LLC now owns 705,885 shares of the company’s stock valued at $3,035,000 after acquiring an additional 173,999 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in shares of Gold Fields in the 4th quarter valued at about $177,000. CoreCommodity Management LLC increased its holdings in shares of Gold Fields by 109.9% in the 4th quarter. CoreCommodity Management LLC now owns 424,597 shares of the company’s stock valued at $1,826,000 after acquiring an additional 222,277 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Gold Fields in the 4th quarter valued at about $990,000. Institutional investors and hedge funds own 33.79% of the company’s stock.

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About Gold Fields

Gold Fields Limited produces gold and holds gold reserves in South Africa, Ghana, Australia, and Peru. It engages in underground and surface gold and surface copper mining and related activities, including exploration, extraction, processing, and smelting. The company holds interests in eight operating mines with an annual gold-equivalent production of approximately 2.2 million ounces, as well as mineral reserves of approximately 48 million ounces and mineral resources of approximately 101 million ounces.

Analyst Recommendations for Gold Fields (NYSE:GFI)

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