Analysts Offer Predictions for Gold Fields FY2024 Earnings

Gold Fields Limited (NYSE:GFI - Free Report) - Equities research analysts at Scotiabank raised their FY2024 EPS estimates for shares of Gold Fields in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the company will post earnings of $1.12 per share for the year, up from their previous estimate of $1.06. The consensus estimate for Gold Fields' current full-year earnings is $1.11 per share.

A number of other analysts also recently commented on GFI. Investec upgraded Gold Fields from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. Bank of America initiated coverage on Gold Fields in a research report on Monday, September 16th. They issued a "buy" rating and a $16.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Gold Fields from $18.00 to $17.10 and set a "neutral" rating on the stock in a report on Friday, December 6th. Finally, StockNews.com downgraded shares of Gold Fields from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $16.03.

Gold Fields Price Performance

Shares of NYSE GFI traded up $0.34 during mid-day trading on Friday, hitting $14.72. The company had a trading volume of 3,250,970 shares, compared to its average volume of 2,157,212. Gold Fields has a 12 month low of $12.28 and a 12 month high of $18.97. The firm has a market cap of $13.17 billion, a P/E ratio of 6.98, a PEG ratio of 0.43 and a beta of 1.13. The business's 50-day simple moving average is $14.35 and its 200-day simple moving average is $15.24.

Hedge Funds Weigh In On Gold Fields

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew 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. Massachusetts Financial Services Co. MA grew its holdings in 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 acquiring an additional 580,546 shares during the last quarter. Mackenzie Financial Corp increased its position in Gold Fields by 28.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,609,289 shares of the company's stock valued at $38,878,000 after acquiring an additional 581,730 shares in the last quarter. Bamco Inc. NY raised its stake in shares of Gold Fields by 4.8% in the third quarter. Bamco Inc. NY now owns 2,018,817 shares of the company's stock worth $30,989,000 after acquiring an additional 92,571 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Gold Fields by 66.1% during 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 in the last quarter. 24.81% of the stock is currently owned by institutional investors and hedge funds.

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.