Gold Fields (NYSE:GFI) Earns Buy Rating from Analysts at Bank of America

Bank of America began coverage on shares of Gold Fields (NYSE:GFI) in a research note issued to investors on Monday morning, StockNewsAPI reports. The brokerage issued a buy rating and a $16.00 price objective on the stock.

Other analysts also recently issued reports about the company. StockNews.com raised Gold Fields from a hold rating to a buy rating in a research report on Friday, August 23rd. BMO Capital Markets upgraded Gold Fields from an underperform rating to a market perform rating and lifted their price target for the company from $13.50 to $14.00 in a research report on Wednesday, June 26th. JPMorgan Chase & Co. reduced their price target on Gold Fields from $17.50 to $16.70 and set a neutral rating for the company in a research report on Wednesday, July 3rd. Finally, Scotiabank reduced their price target on Gold Fields from $18.00 to $17.00 and set a sector perform rating for the company in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $15.93.

Gold Fields Stock Down 0.7 %

NYSE:GFI opened at $14.35 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.77 and a quick ratio of 0.70. The business has a fifty day simple moving average of $15.43 and a two-hundred day simple moving average of $15.74. Gold Fields has a 1 year low of $10.31 and a 1 year high of $18.97.

Gold Fields Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 13th will be given a dividend of $0.1692 per share. This represents a yield of 2.2%. The ex-dividend date of this dividend is Friday, September 13th.

Hedge Funds Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GFI. QRG Capital Management Inc. grew its position in Gold Fields by 10.3% during the fourth quarter. QRG Capital Management Inc. now owns 11,802 shares of the company’s stock worth $171,000 after buying an additional 1,101 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Gold Fields by 17.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 20,026 shares of the company’s stock worth $290,000 after buying an additional 2,903 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Gold Fields during the fourth quarter worth about $3,017,000. Artisan Partners Limited Partnership purchased a new position in Gold Fields during the fourth quarter worth about $7,889,000. Finally, Parallel Advisors LLC lifted its stake in Gold Fields by 51.7% during the fourth quarter. Parallel Advisors LLC now owns 4,878 shares of the company’s stock worth $71,000 after purchasing an additional 1,662 shares during the last quarter. 26.02% of the stock is currently 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.