JPMorgan Chase & Co. Cuts Gold Fields (NYSE:GFI) Price Target to $16.70

Gold Fields (NYSE:GFI) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $17.50 to $16.70 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.22% from the stock’s current price.

Several other analysts have also issued reports on GFI. StockNews.com raised Gold Fields from a “hold” rating to a “buy” rating in a report on Thursday, March 28th. Scotiabank lowered their price objective on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Friday, June 14th. UBS Group downgraded Gold Fields from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets upgraded Gold Fields from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $13.50 to $14.00 in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Gold Fields currently has a consensus rating of “Hold” and an average price target of $15.90.

Gold Fields Price Performance

Shares of GFI traded up $0.35 during trading hours on Wednesday, hitting $15.29. The stock had a trading volume of 369,847 shares, compared to its average volume of 3,973,573. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.70 and a current ratio of 1.25. Gold Fields has a 12 month low of $10.31 and a 12 month high of $18.97. The stock has a fifty day moving average price of $15.79 and a 200 day moving average price of $15.11.

Institutional Investors Weigh In On Gold Fields

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position in Gold Fields by 6.6% during the first quarter. Van ECK Associates Corp now owns 47,241,502 shares of the company’s stock valued at $750,667,000 after purchasing an additional 2,934,943 shares during the period. RWC Asset Advisors US LLC raised its position in Gold Fields by 19.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 12,810,699 shares of the company’s stock valued at $185,243,000 after purchasing an additional 2,070,427 shares during the period. First Eagle Investment Management LLC purchased a new stake in Gold Fields during the first quarter valued at approximately $85,326,000. Massachusetts Financial Services Co. MA raised its position in Gold Fields by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,377,766 shares of the company’s stock valued at $48,842,000 after purchasing an additional 70,646 shares during the period. Finally, Schroder Investment Management Group raised its position in Gold Fields by 4.5% during the fourth quarter. Schroder Investment Management Group now owns 3,240,748 shares of the company’s stock valued at $46,861,000 after purchasing an additional 139,205 shares during the period. 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.