Canaccord Genuity Initiates “Buy” on Gold Fields (GFI) with $33 Target

Gold Fields Limited (NYSE:GFI) is one of the best stocks to buy amid gold rally. On July 28, Canaccord Genuity issued a “Buy” rating as it initiated coverage on Gold Fields; it set the target price at $33. The investment bank cited strong near-term growth prospects for the South Africa-headquartered company.

Gold Fields, a top-10 global gold producer operating 10 mines worldwide, is poised for near-term growth driven by expansions at Salares Norte and Gruyere through 2026, alongside ongoing development at Windfall and key assets like St Ives, South Deep, and Tarkwa through 2028. Canaccord Genuity projects notable deleveraging by 2027, which could bolster the company’s capacity for M&A and support a re-rating of its shares through rising production, profits, and shareholder returns.

Gold Fields Limited (NYSE:GFI) is a globally diversified gold mining company. It explores for, develops, and produces gold, with additional activities in copper and silver extraction. The company operates nine mines across South Africa, Australia, Ghana, Chile, and Peru, and owns the Windfall Project in Québec, Canada. Its primary product is gold bullion, refined from both underground and surface mining operations.

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Disclosure: None. This article is originally published at Insider Monkey.