Gold Fields price target raised to $44 from $32 at BMO Capital

BMO Capital raised the firm’s price target on Gold Fields (GFI) to $44 from $32 and keeps a Market Perform rating on the shares. Gold Fields hosted a Capital Markets Day, which highlighted medium- to long-term growth plans and increased portfolio reinvestment, but also improved capital returns, the analyst tells investors in a research note. The current gold price environment provides capacity for a sector-wide uplift in reinvestment capital, the firm says.