Sibanye Gold (NYSE:SBSW) Announces Earnings Results

Sibanye Gold (NYSE:SBSW) announced its quarterly earnings data on Tuesday. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.57), reports. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $5.22 billion.

Sibanye Gold Stock Down 2.3%

NYSE SBSW opened at $11.81 on Tuesday. Sibanye Gold has a 1-year low of $7.36 and a 1-year high of $21.29. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.78 and a quick ratio of 0.86. The business’s fifty day moving average price is $9.64 and its 200-day moving average price is $11.72.

Insiders Place Their Bets

In other news, Director Richard Peter Menell bought 15,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of $2.19 per share, with a total value of $32,850.00. Following the completion of the transaction, the director owned 25,125 shares of the company’s stock, valued at approximately $55,023.75. This trade represents a 148.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Sibanye Gold

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Sibanye Gold by 116.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,298 shares of the company’s stock valued at $37,000 after purchasing an additional 1,777 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Sibanye Gold by 40.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,481 shares of the company’s stock worth $39,000 after buying an additional 1,000 shares during the last quarter. GeoWealth Management LLC purchased a new position in shares of Sibanye Gold in the third quarter worth approximately $43,000. US Bancorp DE grew its position in Sibanye Gold by 2,664.2% during the third quarter. US Bancorp DE now owns 4,091 shares of the company’s stock valued at $46,000 after buying an additional 3,943 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Sibanye Gold during the first quarter valued at approximately $55,000. 34.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on SBSW. Zacks Research cut Sibanye Gold from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sibanye Gold in a research note on Friday, July 17th. BMO Capital Markets lowered their price target on Sibanye Gold from $14.00 to $12.00 and set a “market perform” rating for the company in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Sibanye Gold from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Citigroup upgraded shares of Sibanye Gold from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.82.

About Sibanye Gold

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.