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

Gold Fields (NYSE:GFI) had its target price decreased by JPMorgan Chase & Co. from $18.00 to $17.10 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 23.11% from the stock’s current price.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Gold Fields from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Scotiabank cut their price objective on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. Investec raised shares of Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, Bank of America began coverage on shares of Gold Fields in a research report on Monday, September 16th. They issued a “buy” rating and a $16.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Gold Fields currently has an average rating of “Hold” and an average price target of $16.03.

Gold Fields Trading Down 1.7 %

Shares of NYSE:GFI opened at $13.89 on Friday. Gold Fields has a 52 week low of $12.19 and a 52 week high of $18.97. The firm’s fifty day moving average is $15.64 and its 200-day moving average is $15.47.

Institutional Investors Weigh In On Gold Fields

A number of hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in shares of Gold Fields by 5.6% during the 2nd quarter. Blue Trust Inc. now owns 54,657 shares of the company’s stock worth $868,000 after buying an additional 2,916 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in Gold Fields by 10.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,538 shares of the company’s stock valued at $172,000 after purchasing an additional 1,090 shares in the last quarter. TrueMark Investments LLC bought a new stake in Gold Fields in the second quarter valued at $417,000. Concurrent Investment Advisors LLC acquired a new position in shares of Gold Fields during the second quarter valued at about $153,000. Finally, Ritholtz Wealth Management boosted its position in shares of Gold Fields by 14.5% during the 2nd quarter. Ritholtz Wealth Management now owns 37,935 shares of the company’s stock worth $565,000 after purchasing an additional 4,800 shares in the last quarter. 26.02% of the stock is currently 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.