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

Gold Fields (NYSE:GFI) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $17.50 to $16.70 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 9.22% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on GFI. StockNews.com upgraded Gold Fields from a “hold” rating to a “buy” rating in a research note on Thursday, March 28th. UBS Group cut Gold Fields from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 10th. BMO Capital Markets upgraded Gold Fields from an “underperform” rating to a “market perform” rating and increased their price target for the company from $13.50 to $14.00 in a research note on Wednesday, June 26th. Finally, Scotiabank dropped their price target on Gold Fields from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research note on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.90.

Gold Fields Stock Performance

Shares of Gold Fields stock traded up $0.35 on Wednesday, reaching $15.29. 369,847 shares of the company were exchanged, compared to its average volume of 3,973,573. Gold Fields has a one year low of $10.31 and a one year high of $18.97. The company has a current ratio of 1.25, a quick ratio of 0.70 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $15.79 and a 200 day moving average of $15.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in Gold Fields by 2.9% in the 1st quarter. Toronto Dominion Bank now owns 257,294 shares of the company’s stock valued at $4,088,000 after buying an additional 7,294 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Gold Fields by 33.0% during the 1st quarter. Advisors Asset Management Inc. now owns 104,117 shares of the company’s stock worth $1,654,000 after purchasing an additional 25,838 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Gold Fields by 2.7% during the 1st quarter. National Bank of Canada FI now owns 1,656,644 shares of the company’s stock worth $28,063,000 after purchasing an additional 43,571 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Gold Fields by 21.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 88,099 shares of the company’s stock worth $1,400,000 after purchasing an additional 15,326 shares in the last quarter. Finally, South Street Advisors LLC acquired a new stake in shares of Gold Fields during the 1st quarter worth $9,260,000. 26.02% of the stock is owned by institutional investors and hedge funds.

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.