A Careful Analysis Of Cenovus Energy Inc. (CVE), Gold Fields Limited (GFI) – The RNS Daily

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The shares of Cenovus Energy Inc. (NYSE:CVE) dropped by -33.83% or -$3.88 from its last recorded high of $11.47 which it attained on May 22 to close at $7.59 per share. Over the past 52 weeks, the shares of Cenovus Energy Inc. has been trading as low as $6.15 before witnessing a massive surge by 23.41% or $1.44. This price movement has led to the CVE stock receiving more attention and has become one to watch out for. It dipped by -3.19% on Thursday and this got the market worried. The stock’s beta now stands at 0.73 and when compared to its 200-day moving average and its 50-day moving average, CVE price stands -17.05% below and 0.44% above respectively. Its average daily volatility for this week is 2.85% which is less than the 3.16% recorded over the past month.

Cenovus Energy Inc. (CVE) sank -2.57% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a drop that has seen it decline -11.02% and is now up by 7.97% since start of this year. A look at its monthly performance shows that the stock has recorded a -3.8% fall over the past 30 days. Its equity price dipped by -15.67% over the past three months which led to its overall six-month decrease to stand at -24.1%.

A look at CVE technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 45.04 point. Its trading volume has added 1748059 shares compared to readings over the past three months as it recently exchanged 6058059 shares. This means there is improved activity from short-term traders as per session, its average trading volume is 4310000 shares, and this is 1.41 times the normal volume.

The price of Gold Fields Limited (NYSE:GFI) currently stands at $3.62 after it went down by $-0.05 or -1.36% and has found a strong support at $3.57 a share. If the GFI price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $3.52 mark would also be bad for the stock as it means that the stock would plunge by 2.76% from its current position. However, if the stock price is able to trade above the resistance point around $3.67, then it could likely surge higher to try and break the upward resistance which stands at $3.72 a share. Its average daily volatility over the past one month stands at 3.12%. The stock has plunged by 1.38% from its 52-weeks high of $3.57 which it reached on Mar. 26, 2018. In general, it is 39.23% above its 52-weeks lowest point which stands at $2.2 and this setback was observed on Sep. 11, 2018.

Analysts have predicted a price target for Gold Fields Limited (GFI) for 1 year and it stands at an average $3.73/share. This means that it would likely increase by 3.04% from its current position. The current price of the stock has been moving between $3.57 and $3.67. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $2.47. On the other hand, one analyst is super bullish about the price, setting a target as high as $7.63.

The GFI stock Stochastic Oscillator (%D) is at 24.66%, which means that it is currently oversold and its prices could jump very soon. The shares P/S ratio stands at 1.04 which compares to the 1.28 recorded by the industry or the 2.82 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 17.24, which is higher than the 0 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of -16% over the past five years.

Analysts view Gold Fields Limited (NYSE:GFI) as a Hold, with 2.5 consensus rating. Reuters surveyed 4 analysts that follow GFI and found that 1 of those analysts rated the stock as a Hold. The remaining 3 were divided, with 2 analyst rating it as a Buy or a Strong Buy while 1 analysts advised investors to desist from buying Gold Fields Limited (GFI) shares or sell it if they already own it.

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