Gold Fields (NYSE:GFI) Given New $20.00 Price Target at Scotiabank

Gold Fields (NYSE:GFI) had its target price hoisted by equities researchers at Scotiabank from $18.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 6.67% from the company’s current price.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. upped their target price on Gold Fields from $17.10 to $18.80 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. StockNews.com raised shares of Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.20.

Gold Fields Price Performance

NYSE:GFI traded down $0.54 during trading hours on Tuesday, hitting $18.75. The stock had a trading volume of 1,236,579 shares, compared to its average volume of 2,798,313. The firm has a market capitalization of $16.78 billion, a price-to-earnings ratio of 7.98, a P/E/G ratio of 0.30 and a beta of 1.15. The company has a 50 day simple moving average of $15.92 and a two-hundred day simple moving average of $15.50. Gold Fields has a one year low of $12.28 and a one year high of $19.80.

Institutional Investors Weigh In On Gold Fields

Several institutional investors have recently added to or reduced their stakes in the company. ABC Arbitrage SA purchased a new stake in Gold Fields in the 4th quarter worth approximately $1,641,000. Bank of Montreal Can boosted its position in shares of Gold Fields by 36.9% during the third quarter. Bank of Montreal Can now owns 263,575 shares of the company’s stock valued at $4,280,000 after buying an additional 71,094 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Gold Fields during the third quarter valued at approximately $1,052,000. Massachusetts Financial Services Co. MA boosted its position in Gold Fields by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,155,835 shares of the company’s stock worth $94,492,000 after purchasing an additional 580,546 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Gold Fields in the third quarter worth approximately $10,600,000. Hedge funds and other institutional investors own 24.81% 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.