JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Gold Fields (NYSE:GFI) Stock

Gold Fields (NYSE:GFI) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $17.10 to $18.80 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 24.26% from the company’s previous close.

A number of other research analysts have also recently commented on GFI. StockNews.com cut Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Investec raised Gold Fields from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.45.

Gold Fields Price Performance

GFI stock opened at $15.13 on Wednesday. The firm has a 50-day moving average of $14.29 and a 200 day moving average of $15.24. Gold Fields has a 1 year low of $12.28 and a 1 year high of $18.97.

Hedge Funds Weigh In On Gold Fields

A number of hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of Gold Fields by 8.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 119,470 shares of the company’s stock valued at $1,818,000 after acquiring an additional 9,470 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Gold Fields by 13.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,319 shares of the company’s stock valued at $318,000 after purchasing an additional 2,480 shares during the period. XTX Topco Ltd purchased a new stake in Gold Fields in the second quarter worth approximately $1,296,000. MQS Management LLC bought a new stake in Gold Fields in the 2nd quarter worth approximately $225,000. Finally, Sei Investments Co. grew its position in Gold Fields by 258.0% in the 2nd quarter. Sei Investments Co. now owns 440,848 shares of the company’s stock worth $6,569,000 after purchasing an additional 317,719 shares during the period. 24.81% of the stock is currently owned by hedge funds and other institutional investors.

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.