Gold Fields (NYSE:GFI) Downgraded to “Buy” Rating by StockNews.com

Gold Fields (NYSE:GFI) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Other equities analysts have also recently issued research reports about the company. Investec upgraded Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Bank of America started coverage on Gold Fields in a research note on Monday, September 16th. They set a “buy” rating and a $16.00 price target for the company. Finally, Scotiabank lowered their price objective 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Gold Fields has a consensus rating of “Hold” and a consensus price target of $15.93.

Gold Fields Price Performance

Shares of Gold Fields stock opened at $16.17 on Tuesday. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 0.55 and a beta of 1.16. The firm’s fifty day simple moving average is $15.50 and its 200-day simple moving average is $15.80. Gold Fields has a 12 month low of $12.19 and a 12 month high of $18.97.

Hedge Funds Weigh In On Gold Fields

Hedge funds have recently bought and sold shares of the company. CWA Asset Management Group LLC acquired a new stake in Gold Fields in the 3rd quarter valued at about $1,052,000. Concurrent Investment Advisors LLC boosted its stake in shares of Gold Fields by 8.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 11,100 shares of the company’s stock worth $170,000 after purchasing an additional 850 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Gold Fields during the third quarter worth about $160,000. Van ECK Associates Corp boosted its holdings in shares of Gold Fields by 3.3% during the third quarter. Van ECK Associates Corp now owns 48,505,911 shares of the company’s stock worth $744,566,000 after purchasing an additional 1,549,372 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Gold Fields by 1.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 121,770 shares of the company’s stock valued at $1,929,000 after buying an additional 2,300 shares during the period. 26.02% of the stock is owned by hedge funds and other 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.