Sibanye Gold (NYSE:SBSW) Stock Price Down 10.1% – Here’s Why
by Danessa Lincoln · The Markets DailyShares of Sibanye Gold Limited (NYSE:SBSW – Get Free Report) traded down 10.1% on Thursday . The company traded as low as $10.81 and last traded at $11.2330. 5,415,052 shares were traded during trading, a decline of 30% from the average session volume of 7,766,896 shares. The stock had previously closed at $12.49.
Analyst Upgrades and Downgrades
Several research firms have commented on SBSW. Zacks Research raised Sibanye Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Sibanye Gold in a report on Thursday, January 22nd. BMO Capital Markets boosted their price objective on Sibanye Gold from $14.00 to $18.00 and gave the company a “market perform” rating in a research report on Tuesday, February 3rd. Wall Street Zen cut Sibanye Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, HSBC upgraded shares of Sibanye Gold from a “hold” rating to a “buy” rating and set a $24.80 price target on the stock in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.93.
View Our Latest Analysis on SBSW
Sibanye Gold Stock Performance
The company has a quick ratio of 0.86, a current ratio of 1.78 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average price of $16.37 and a two-hundred day moving average price of $13.29.
Sibanye Gold Announces Dividend
The business also recently declared an annual dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 20th will be given a $0.2614 dividend. This represents a yield of 164.0%. The ex-dividend date is Friday, March 20th.
Institutional Investors Weigh In On Sibanye Gold
Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Sibanye Gold by 113.9% in the 1st quarter. AQR Capital Management LLC now owns 39,909 shares of the company’s stock worth $183,000 after purchasing an additional 21,248 shares during the last quarter. Millennium Management LLC boosted its position in Sibanye Gold by 363.7% in the first quarter. Millennium Management LLC now owns 3,171,659 shares of the company’s stock valued at $14,526,000 after buying an additional 2,487,648 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Sibanye Gold by 196.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,576,255 shares of the company’s stock valued at $16,379,000 after buying an additional 2,370,443 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Sibanye Gold during the first quarter worth about $55,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Sibanye Gold during the second quarter worth approximately $186,000. Institutional investors and hedge funds own 34.93% of the company’s stock.
Sibanye Gold Company Profile
Sibanye Gold (NYSE:SBSW) is a precious metals mining company headquartered in Johannesburg, South Africa. The company’s core operations focus on the extraction, processing and exploration of gold. Through its South African gold mining operations, Sibanye Gold produces doré bars, gold in concentrate and carbon-in-leach product, leveraging both underground and surface mining techniques. The company also generates by-products such as uranium, copper and nickel, reflecting its commitment to maximizing resource recovery.
In addition to its South African footprint, Sibanye Gold has expanded into the platinum‐group metals (PGM) sector through its acquisition of Stillwater Mining Company in 2017.