Canaccord upgrades Gold Fields to Buy on higher gold forecasts

Canaccord upgraded Gold Fields (GFI) to Buy from Hold with a price target of $57.25, up from $40.25. The firm upped its gold price forecasts by 7%-8% through 2029 to reflect the continued strength in the gold and silver market. With a stronger precious metals price outlook over the coming five years, precious metals stocks should see higher valuations, the analyst tells investors in a research note.