Scotia Capital Has Sector-Perform on Gold Fields

Scotia Capital is out with a research report on Gold Fields Limited

and it has a Sector Perform rating and a $20 price target. In a note to clients, Scotia Capital writes, "GFI is focused on growing its business through its development and exploration pipeline, rather than acquisitions. It is focused on its free cash flow generation potential from its current operating base and driving its business towards 5 Moz production target by 2015. This is up from current production of 3.5-3.7 Moz." Shares of GFI closed at $16.84 yesterday.