Gold Fields (NYSE:GFI) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Gold Fields (NYSE:GFI) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $17.10 to $18.80 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 24.50% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Investec raised shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, October 18th. StockNews.com lowered shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 5th. 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.45.

Gold Fields Stock Performance

NYSE GFI opened at $15.10 on Wednesday. Gold Fields has a 1-year low of $12.28 and a 1-year high of $18.97. The business has a 50 day simple moving average of $14.26 and a two-hundred day simple moving average of $15.24.

Hedge Funds Weigh In On Gold Fields

Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its position in 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 purchased a new stake in shares of Gold Fields in the third quarter valued at $9,911,000. Mackenzie Financial Corp lifted its holdings in shares of 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 acquiring an additional 581,730 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Gold Fields by 10.4% during the 3rd 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 grew its holdings in Gold Fields by 66.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,385,210 shares of the company’s stock valued at $21,263,000 after purchasing an additional 551,210 shares during the last quarter. Institutional investors own 24.81% of the company’s stock.

Gold Fields Company Profile

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.