Sibanye Stillwater (NYSE:SBSW) Shares Gap Down – Here’s What Happened

Shares of Sibanye Stillwater Limited (NYSE:SBSW) gapped down prior to trading on Monday . The stock had previously closed at $5.11, but opened at $4.80. Sibanye Stillwater shares last traded at $4.67, with a volume of 2,025,267 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada upgraded Sibanye Stillwater from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $4.70 to $5.30 in a research note on Tuesday, March 18th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Sibanye Stillwater has a consensus rating of “Hold” and an average target price of $5.05.

Sibanye Stillwater Trading Down 9.7%

The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 8.86 and a beta of 0.59. The firm has a 50-day moving average of $4.33 and a 200 day moving average of $4.04.

Hedge Funds Weigh In On Sibanye Stillwater

A number of hedge funds have recently modified their holdings of SBSW. Itau Unibanco Holding S.A. acquired a new stake in Sibanye Stillwater during the fourth quarter valued at $25,000. GAMMA Investing LLC increased its stake in Sibanye Stillwater by 590.8% during the first quarter. GAMMA Investing LLC now owns 9,091 shares of the company’s stock valued at $42,000 after acquiring an additional 7,775 shares during the period. Creative Financial Designs Inc. ADV grew its stake in shares of Sibanye Stillwater by 35.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the company’s stock valued at $42,000 after purchasing an additional 2,400 shares during the period. Ameriprise Financial Inc. bought a new stake in shares of Sibanye Stillwater in the 4th quarter valued at approximately $35,000. Finally, Resolute Wealth Strategies LLC acquired a new position in shares of Sibanye Stillwater in the 1st quarter worth approximately $51,000. 34.93% of the stock is currently owned by institutional investors and hedge funds.

About Sibanye Stillwater

Sibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia. The company produces gold; platinum group metals (PGMs), including palladium, platinum, rhodium, iridium, and ruthenium; chrome; nickel; and silver, cobalt, and copper.