Investec Upgrades Gold Fields (NYSE:GFI) to "Buy"

Investec upgraded shares of Gold Fields (NYSE:GFI - Free Report) from a hold rating to a buy rating in a report issued on Friday, Marketbeat Ratings reports.

Other analysts have also recently issued research reports about the stock. Scotiabank dropped 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 report on Monday, August 26th. Bank of America began coverage on shares of Gold Fields in a report on Monday, September 16th. They set a "buy" rating and a $16.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Gold Fields from $17.50 to $16.70 and set a "neutral" rating on the stock in a report on Wednesday, July 3rd. BMO Capital Markets upgraded shares of Gold Fields from an "underperform" rating to a "market perform" rating and boosted their target price for the company from $13.50 to $14.00 in a report on Wednesday, June 26th. Finally, StockNews.com upgraded shares of Gold Fields from a "buy" rating to a "strong-buy" rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $15.93.

Gold Fields Price Performance

NYSE:GFI traded up $0.78 during trading hours on Friday, hitting $18.02. The company had a trading volume of 3,437,747 shares, compared to its average volume of 3,712,256. The company has a market capitalization of $16.13 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. The stock has a 50-day moving average price of $15.12 and a 200 day moving average price of $15.82. Gold Fields has a 52 week low of $12.19 and a 52 week high of $18.97.

Gold Fields Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were paid a $0.1692 dividend. This represents a yield of 2.2%. The ex-dividend date was Friday, September 13th. Gold Fields's payout ratio is 14.14%.

Hedge Funds Weigh In On Gold Fields

A number of hedge funds have recently bought and sold shares of GFI. GAMMA Investing LLC raised its position in Gold Fields by 78.4% in the 1st quarter. GAMMA Investing LLC now owns 3,098 shares of the company's stock worth $49,000 after buying an additional 1,361 shares during the last quarter. LGT Fund Management Co Ltd. purchased a new position in Gold Fields in the 2nd quarter worth about $149,000. Concurrent Investment Advisors LLC purchased a new position in Gold Fields in the 2nd quarter worth about $153,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Gold Fields by 10.4% during the 2nd 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 during the last quarter. Finally, Candriam S.C.A. purchased a new stake in shares of Gold Fields during the 2nd quarter valued at about $189,000. Institutional investors own 26.02% 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.