Gold Fields (NYSE:GFI) Earns Buy Rating from Analysts at Bank of America

Analysts at Bank of America assumed coverage on shares of Gold Fields (NYSE:GFI) in a research report issued to clients and investors on Monday, StockNewsAPI reports. The firm set a “buy” rating and a $16.00 price target on the stock. Bank of America‘s target price would indicate a potential upside of 10.76% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Scotiabank dropped their price target on shares of Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. JPMorgan Chase & Co. cut their price objective on shares of Gold Fields from $17.50 to $16.70 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. BMO Capital Markets upgraded shares of Gold Fields from an “underperform” rating to a “market perform” rating and increased their target price for the company from $13.50 to $14.00 in a report on Wednesday, June 26th. Finally, StockNews.com upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.93.

Gold Fields Price Performance

GFI stock opened at $14.45 on Monday. Gold Fields has a fifty-two week low of $10.31 and a fifty-two week high of $18.97. The stock’s 50 day simple moving average is $15.46 and its 200 day simple moving average is $15.75. The company has a quick ratio of 0.70, a current ratio of 1.77 and a debt-to-equity ratio of 0.33.

Institutional Trading of Gold Fields

A number of large investors have recently added to or reduced their stakes in GFI. Van ECK Associates Corp increased its holdings in Gold Fields by 6.6% in the 1st quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock worth $750,667,000 after acquiring an additional 2,934,943 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in shares of Gold Fields in the first quarter worth about $85,326,000. RWC Asset Management LLP raised its position in shares of Gold Fields by 10.0% in the second quarter. RWC Asset Management LLP now owns 3,588,984 shares of the company’s stock valued at $53,476,000 after purchasing an additional 324,885 shares during the period. Schroder Investment Management Group lifted its stake in shares of Gold Fields by 4.5% during the 4th quarter. Schroder Investment Management Group now owns 3,240,748 shares of the company’s stock valued at $46,861,000 after buying an additional 139,205 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Gold Fields by 28.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock worth $38,878,000 after buying an additional 581,730 shares during the period. Hedge funds and other institutional investors own 26.02% of the company’s stock.

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.