Sibanye Gold (NYSE:SBSW) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Sibanye Gold (NYSE:SBSW) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks reports.

SBSW has been the subject of a number of other research reports. BMO Capital Markets decreased their price target on shares of Sibanye Gold from $14.00 to $12.00 and set a “market perform” rating for the company in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Sibanye Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Weiss Ratings reissued a “sell (d-)” rating on shares of Sibanye Gold in a report on Friday, July 17th. Finally, Citigroup upgraded Sibanye Gold from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Sibanye Gold presently has an average rating of “Hold” and a consensus price target of $16.82.

Sibanye Gold Stock Up 0.8%

Shares of SBSW opened at $12.89 on Monday. The company’s 50 day simple moving average is $10.11 and its 200-day simple moving average is $11.55. Sibanye Gold has a 12-month low of $7.87 and a 12-month high of $21.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.37 and a current ratio of 2.72.

Sibanye Gold Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Friday, September 18th will be given a dividend of $0.4985 per share. The ex-dividend date is Friday, September 18th. This represents a yield of 795.0%.

Insider Buying and Selling at Sibanye Gold

In other news, Director Richard Menell bought 15,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $2.19 per share, with a total value of $32,850.00. Following the completion of the acquisition, the director directly owned 25,125 shares in the company, valued at approximately $55,023.75. The trade was a 148.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sibanye Gold

A number of institutional investors have recently added to or reduced their stakes in SBSW. Goehring & Rozencwajg Associates LLC boosted its position in shares of Sibanye Gold by 20.6% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 4,270,069 shares of the company’s stock worth $52,607,000 after buying an additional 730,389 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Sibanye Gold in the 2nd quarter valued at about $9,126,000. Sei Investments Co. boosted its stake in shares of Sibanye Gold by 67.5% during the 1st quarter. Sei Investments Co. now owns 868,470 shares of the company’s stock worth $10,700,000 after purchasing an additional 350,122 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Sibanye Gold during the 1st quarter worth about $3,528,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of Sibanye Gold during the fourth quarter worth about $1,414,000. Hedge funds and other institutional investors 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.