Gold Fields (NYSE:GFI) Given New $16.70 Price Target at JPMorgan Chase & Co.

Gold Fields (NYSE:GFI) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $17.50 to $16.70 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.22% from the company’s current price.

GFI has been the subject of a number of other reports. Scotiabank decreased their price target on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating for the company in a research note on Friday, June 14th. UBS Group lowered Gold Fields from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 10th. BMO Capital Markets raised Gold Fields from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $13.50 to $14.00 in a research report on Wednesday, June 26th. Finally, StockNews.com raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.90.

Gold Fields Price Performance

Shares of GFI stock opened at $15.29 on Wednesday. Gold Fields has a 52-week low of $10.31 and a 52-week high of $18.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.25 and a quick ratio of 0.70. The stock has a 50 day moving average price of $15.71 and a 200 day moving average price of $15.11.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors and hedge funds have recently bought and sold shares of GFI. Van ECK Associates Corp increased its holdings in shares of Gold Fields by 6.6% in the 1st quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock valued at $750,667,000 after acquiring an additional 2,934,943 shares during the period. RWC Asset Advisors US LLC increased its holdings in shares of Gold Fields by 19.3% in the 4th quarter. RWC Asset Advisors US LLC now owns 12,810,699 shares of the company’s stock valued at $185,243,000 after acquiring an additional 2,070,427 shares during the period. First Eagle Investment Management LLC purchased a new position in shares of Gold Fields in the 1st quarter valued at $85,326,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Gold Fields by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,377,766 shares of the company’s stock valued at $48,842,000 after acquiring an additional 70,646 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of Gold Fields by 4.5% in the 4th quarter. Schroder Investment Management Group now owns 3,240,748 shares of the company’s stock valued at $46,861,000 after acquiring an additional 139,205 shares during the period. 26.02% of the stock is owned by institutional investors.

About Gold Fields

Gold Fields Limited operates as a gold producer with reserves and resources in Chile, South Africa, Ghana, Canada, Australia, and Peru. It also explores for copper and silver deposits. The company was founded in 1887 and is based in Sandton, South Africa.