JPMorgan Chase & Co. Cuts Gold Fields (NYSE:GFI) Price Target to $17.10

Gold Fields (NYSE:GFI) had its price target decreased by JPMorgan Chase & Co. from $18.00 to $17.10 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Bank of America started coverage on shares of Gold Fields in a research report on Monday, September 16th. They issued a “buy” rating and a $16.00 target price on the stock. StockNews.com cut shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 5th. Scotiabank decreased their target price 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. Finally, Investec raised shares of Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and three have issued 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 price target of $16.03.

Gold Fields Price Performance

Gold Fields stock opened at $13.89 on Friday. Gold Fields has a 12-month low of $12.19 and a 12-month high of $18.97. The stock has a market capitalization of $12.43 billion, a P/E ratio of 6.61, a P/E/G ratio of 0.41 and a beta of 1.13. The firm’s 50-day moving average is $15.64 and its two-hundred day moving average is $15.47.

Institutional Trading of Gold Fields

A number of hedge funds and other institutional investors have recently made changes to their positions in GFI. Van ECK Associates Corp increased its stake in shares of Gold Fields by 3.3% in the third quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock worth $744,566,000 after buying an additional 1,549,372 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Gold Fields in the third quarter worth $9,911,000. Mackenzie Financial Corp boosted its holdings in Gold Fields by 28.7% in the second quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company’s stock worth $38,878,000 after purchasing an additional 581,730 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Gold Fields by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock worth $94,492,000 after purchasing an additional 580,546 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Gold Fields by 66.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,385,210 shares of the company’s stock worth $21,263,000 after purchasing an additional 551,210 shares during the period. 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.