Gold Fields Stock Rating Downgraded by StockNews.com

Gold Fields (NYSE:GFI) has recently been downgraded by StockNews.com. In a report released on Friday, the stock rating was changed from a "strong-buy" to a "buy". This adjustment indicates a shift in analyst sentiment regarding the company’s future performance.

Recent Analyst Activity

Other analysts have also shared their evaluations of Gold Fields. Bank of America initiated coverage of the stock on September 16th, issuing a "buy" rating along with a price target of $16.00. Furthermore, on June 26th, BMO Capital Markets upgraded Gold Fields from an "underperform" rating to a "market perform" rating, raising their price target from $13.50 to $14.00.

JPMorgan Chase & Co. adjusted their price objective from $17.50 to $16.70, maintaining a "neutral" rating in their report on July 3rd. Additionally, Scotiabank lowered their price target from $18.00 to $17.00 and designated Gold Fields with a "sector perform" rating on August 26th. Recently, Investec upgraded Gold Fields from a "hold" to a "buy" rating.

Overall, one investment analyst has assigned a sell rating on the stock, while four have given it a hold rating, and three have assigned a buy rating. According to MarketBeat.com, Gold Fields holds a consensus rating of "Hold" and an average price target of approximately $15.93.

Gold Fields Stock Performance

On the trading day following the downgrade, GFI stock saw an increase of $0.78, bringing it to $18.02. The trading volume for the day was 3,437,747 shares, compared to the average volume of 3,712,256 shares. Currently, the company’s fifty-day simple moving average stands at $15.17, while the two-hundred day simple moving average is $15.83.

Gold Fields has recorded a twelve-month low of $12.19 and a high of $18.97. The company's market capitalization is $16.13 billion, with a price-to-earnings (PE) ratio of 9.43 and a price/earnings to growth (PEG) ratio of 0.52. The stock also has a beta value of 1.18, indicating its volatility in relation to the market.

Institutional Investor Activity

Recently, there have been noticeable changes in the holdings of institutional investors and hedge funds concerning Gold Fields. For instance, GAMMA Investing LLC boosted its holdings by 78.4% during the first quarter, now owning 3,098 shares valued at around $49,000 after acquiring an additional 1,361 shares. LGT Fund Management Co Ltd made a new investment in Gold Fields in the second quarter valued at $149,000.

Moreover, Concurrent Investment Advisors LLC also invested in the company during this quarter, spending $153,000. Hennion & Walsh Asset Management Inc. increased its ownership by 10.4%, and now owns 11,538 shares worth around $172,000.

Lastly, Candriam S.C.A. purchased a new stake in Gold Fields during the second quarter, valued at about $189,000. Currently, institutional investors hold approximately 26.02% of Gold Fields’ shares.

About Gold Fields

Gold Fields Limited operates as a global gold producer with significant reserves and resources located in various countries, including Chile, South Africa, Ghana, Canada, Australia, and Peru. The company also explores for copper and silver deposits. Established in 1887, Gold Fields is based in Sandton, South Africa.

Gold, Stocks, Investment