Gold Fields (NYSE:GFI) Hits New 1-Year High – Here’s Why

Gold Fields Limited (NYSE:GFI) hit a new 52-week high on Monday . The company traded as high as $57.50 and last traded at $57.36, with a volume of 1092801 shares changing hands. The stock had previously closed at $53.22.

Wall Street Analysts Forecast Growth

GFI has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gold Fields in a research note on Thursday, January 22nd. JPMorgan Chase & Co. lifted their price target on shares of Gold Fields from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Investec cut Gold Fields from a “buy” rating to a “hold” rating in a report on Friday, October 10th. Scotiabank increased their price objective on Gold Fields from $47.00 to $61.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, Citigroup lifted their target price on Gold Fields from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.00.

Gold Fields Stock Performance

The firm’s 50 day simple moving average is $45.42 and its 200-day simple moving average is $38.91.

Institutional Investors Weigh In On Gold Fields

A number of institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in shares of Gold Fields by 1.6% during the third quarter. Van ECK Associates Corp now owns 34,303,269 shares of the company’s stock worth $1,439,365,000 after purchasing an additional 539,923 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Gold Fields by 39.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 6,085,653 shares of the company’s stock valued at $265,700,000 after buying an additional 1,714,442 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Gold Fields by 84.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,549,220 shares of the company’s stock valued at $131,350,000 after acquiring an additional 2,545,579 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Gold Fields by 32.9% during the 2nd quarter. Invesco Ltd. now owns 4,919,432 shares of the company’s stock valued at $116,443,000 after acquiring an additional 1,217,594 shares in the last quarter. Finally, DJE Kapital AG increased its stake in shares of Gold Fields by 19.7% in the second quarter. DJE Kapital AG now owns 4,511,125 shares of the company’s stock worth $105,260,000 after acquiring an additional 742,174 shares during the last quarter. 24.81% of the stock is currently owned by institutional investors and hedge funds.

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.