Gold Fields downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley downgraded Gold Fields (GFI) to Underweight from Equal Weight. Over the near term, the company Gold Fields expects production to fall across St Ives, Granny Smith, Agnew, and Tarkwa, and also for unit costs to rise with a material step up in capex as the group invests for production sustainability over the next decade, the analyst tells investors in a research note.