BMO Capital Reiterates Market Perform Rating on Gold Fields (GFI)

BMO Capital analyst Raj Ray reiterated a Market Perform rating and $18.00 price target on Gold Fields (NYSE: GFI).

The analyst comments "Gold Fields has made a non-binding proposal to acquire 100% of Gold Road Resources, which owns 50% of the Gruyere mine in Western Australia for A$3.05/sh, a 28% premium to Gold Road’s closing share price of A$2.38/sh. This offer has been rejected by Gold Road, instead it responded with a counteroffer to acquire GFI’s 50% stake in Gruyere. Gold Fields declined this counterproposal but will continue to engage with Gold Road on its own proposal."

For an analyst ratings summary and ratings history on Gold Fields click here. For more ratings news on Gold Fields click here.

Shares of Gold Fields closed at $21.61 yesterday.

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