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

Gold Fields (NYSE:GFI) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $64.00 to $65.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 24.88% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Zacks Research cut shares of Gold Fields from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Canaccord Genuity Group downgraded Gold Fields from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a report on Monday, October 13th. Wall Street Zen upgraded Gold Fields from a “buy” rating to a “strong-buy” rating in a report on Sunday. HSBC reaffirmed a “hold” rating on shares of Gold Fields in a research report on Thursday, October 9th. Finally, Scotiabank raised their price target on shares of Gold Fields from $30.00 to $47.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.25.

Gold Fields Trading Up 5.3%

GFI stock traded up $2.64 during midday trading on Tuesday, reaching $52.05. 1,908,840 shares of the company’s stock traded hands, compared to its average volume of 2,546,805. Gold Fields has a fifty-two week low of $15.76 and a fifty-two week high of $53.31. The business has a 50-day moving average price of $43.93 and a two-hundred day moving average price of $37.67.

Institutional Investors Weigh In On Gold Fields

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Harbour Capital Advisors LLC lifted its position in shares of Gold Fields by 0.5% during the fourth quarter. Harbour Capital Advisors LLC now owns 50,525 shares of the company’s stock worth $2,201,000 after purchasing an additional 265 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Gold Fields by 47.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 853 shares of the company’s stock worth $36,000 after buying an additional 273 shares during the last quarter. Bridgewater Advisors Inc. grew its position in shares of Gold Fields by 1.6% in the 3rd quarter. Bridgewater Advisors Inc. now owns 20,692 shares of the company’s stock worth $868,000 after acquiring an additional 317 shares in the last quarter. CWM LLC increased its holdings in shares of Gold Fields by 24.7% in the 3rd quarter. CWM LLC now owns 2,086 shares of the company’s stock valued at $88,000 after acquiring an additional 413 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Gold Fields by 6.0% during the 3rd quarter. Parallel Advisors LLC now owns 7,452 shares of the company’s stock valued at $313,000 after acquiring an additional 421 shares in the last quarter. Institutional investors own 24.81% of the company’s stock.

Gold Fields Company Profile

Gold Fields (NYSE: GFI) is a Johannesburg‑based gold mining company that operates as an international producer of gold. Listed on multiple exchanges and traded in the United States via American Depositary Receipts under the ticker GFI, the company focuses on the exploration, development, extraction and processing of gold-bearing ore and the sale of refined gold products. Its operations span several regions, serving global bullion markets and supplying gold for both investment and industrial uses.

The company’s core activities include mine development and underground and open‑pit mining, ore treatment and refining, and ongoing exploration to replace reserves.