What’s Ahead for Gold Fields Limited (ADR) After Reaching 52-Week High?
The stock of Gold Fields Limited (ADR) (NYSE:GFI) hit a new 52-week high and has $9.68 target or 50.00% above today’s $6.45 share price. The 7 months bullish chart indicates low risk for the $5.32 billion company. The 1-year high was reported on Aug, 11 by Barchart.com. If the $9.68 price target is reached, the company will be worth $2.66B more. The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.57% or $0.1 during the last trading session, hitting $6.45. About 3.94M shares traded hands. Gold Fields Limited (ADR) (NYSE:GFI) has risen 122.03% since January 5, 2016 and is uptrending. It has outperformed by 113.84% the S&P500.
Out of 6 analysts covering Gold Fields Limited (NYSE:GFI), 0 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 0 are positive. Gold Fields Limited has been the topic of 9 analyst reports since August 31, 2015 according to StockzIntelligence Inc.
According to Zacks Investment Research, “Gold Fields Limited is one of the world’s largest unhedged gold producers with operating mines in South Africa, Ghana, and Australia.”
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