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

Gold Fields (NYSE:GFI) had its price target upped by JPMorgan Chase & Co. from $17.10 to $18.80 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other brokerages have also commented on GFI. Investec upgraded shares of Gold Fields from a “hold” rating to a “buy” rating in a report on Friday, October 18th. StockNews.com lowered shares of Gold Fields from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.45.

Gold Fields Trading Up 2.3 %

NYSE GFI opened at $15.63 on Wednesday. Gold Fields has a fifty-two week low of $12.28 and a fifty-two week high of $18.97. The stock has a 50 day simple moving average of $14.28 and a two-hundred day simple moving average of $15.24.

Hedge Funds Weigh In On Gold Fields

Several large investors have recently made changes to their positions in GFI. QRG Capital Management Inc. bought a new position in shares of Gold Fields during the third quarter valued at $160,000. Concurrent Investment Advisors LLC grew its position in Gold Fields by 8.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 11,100 shares of the company’s stock valued at $170,000 after purchasing an additional 850 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Gold Fields during the 3rd quarter valued at about $209,000. MQS Management LLC purchased a new position in Gold Fields in the second quarter worth about $225,000. Finally, Rakuten Securities Inc. lifted its stake in shares of Gold Fields by 90.7% in the third quarter. Rakuten Securities Inc. now owns 16,562 shares of the company’s stock worth $254,000 after buying an additional 7,879 shares in the last quarter. 24.81% 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.