The stock of Gold Fields Limited (NYSE:GFI) is now priced at $13.39 and the shares are 0.86 points up or 6.86% higher compared to its previous closing price of $12.53. The stock had 8.157 million contracts set over the past session. GFI shares’ daily volume is compared to its average trading volume at 8.445 million shares. However, it has a float of 829 million and although its performance was 8.95% over the week, it’s one to watch. Analysts have given the GFI stock a yearly average price target of $13.61 per share. It means the stock’s upside potential is 1.64% with the GFI share price recently placing at $12.79 to $13.495. However, some brokerage firms have priced the stock below the average, including one that has called $6.85.
The shorts are running away from the Gold Fields Limited stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the GFI shares have declined. Short interest in the stock represents just 0.78% of its float, but the volume has dropped by 0.
In the last trading session, Gold Fields Limited (NYSE:GFI) raised by $1.1 over the week and gained $0.3 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.4. The stock recorded its established 52-week high on 08/06/20.
Since 03/19/20, the stock has traded to a low of $3.79 at 253.3%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.64. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Gold Fields Limited’s two-week RSI is 60.9. This suggests that the stock is neutral at the moment and that GFI shares’ price movement remains stable. The stochastic readings are equally revealing at 67.21% meaning the GFI share price is currently in neutral territory.
The technical chart shows that the GFI stock will likely settle at between $13.66 and $13.93 per share. However, if the stock dips below $12.95, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $12.52.
Currently, the stock is trading in the green of MACD, with a reading of 0.31. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at JP Morgan raised their recommendation for GFI from Neutral to Overweight in June 22 review. BofA/Merrill analysts upgraded their recommendation of the stock from Neutral to Buy in a flash note released to investors on April 21. RBC Capital Mkts seeing the stock struggling downgraded it from Outperform to Sector Perform on June 26.
The average rating for the GFI equity is 2.2 and is currently gathering a bullish momentum. Of 5 analysts tracking Gold Fields Limited polled by Reuters, 2 rated GFI as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the GFI stock price is 11.68X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 46.2 above the group’s average of 23.7. Gold Fields Limited has its P/E ratio at 4.2, which means that the stock is currently trading at a premium relative to the 2.8 industry average.