Gold Fields price target lowered to $45 from $48 at RBC Capital

RBC Capital analyst Josh Wolfson lowered the firm’s price target on Gold Fields (GFI) to $45 from $48 and keeps an Outperform rating on the shares. The firm is citing the company’s inaugural 5-year guidance that reflects higher reinvestment to deliver steady growth, also noting Gold Fields’ introduction of a competitive capital returns program, the analyst tells investors in a research note.