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

Sibanye Gold Limited (NYSE:SBSW) gapped down prior to trading on Wednesday. The stock had previously closed at $10.01, but opened at $9.43. Sibanye Gold shares last traded at $9.7090, with a volume of 1,170,547 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank Of Canada cut their target price on Sibanye Gold from $16.50 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, September 16th. BMO Capital Markets lowered their price objective 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 Sibanye Gold from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 6th. Zacks Research raised shares of Sibanye Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Finally, Weiss Ratings upgraded shares of Sibanye Gold from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.32.

Sibanye Gold Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.72 and a quick ratio of 1.37. The business has a 50 day moving average price of $11.14 and a 200-day moving average price of $11.01.

Sibanye Gold Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, October 6th. Shareholders of record on Friday, September 18th were paid a $0.4985 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a yield of 856.0%.

Hedge Funds Weigh In On Sibanye Gold

A number of institutional investors and hedge funds have recently modified their holdings of the business. MAC Alpha Capital Management LP increased its stake in shares of Sibanye Gold by 81.4% in the 2nd quarter. MAC Alpha Capital Management LP now owns 1,588,307 shares of the company’s stock valued at $13,486,000 after acquiring an additional 712,537 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Sibanye Gold during the second quarter worth $6,479,000. Engineers Gate Manager LP boosted its stake in Sibanye Gold by 67.9% during the second quarter. Engineers Gate Manager LP now owns 518,732 shares of the company’s stock worth $4,404,000 after acquiring an additional 209,804 shares in the last quarter. Nykredit A S acquired a new stake in Sibanye Gold in the second quarter worth $140,000. Finally, Burford Brothers Inc. acquired a new stake in Sibanye Gold in the second quarter worth $255,000. 34.93% of the stock is currently owned by institutional investors.

About Sibanye Gold

Sibanye Gold, now known as Sibanye-Stillwater Limited, is a multinational mining and metals processing company headquartered in South Africa. The company was established in 2012 after being spun out of Gold Fields’ South African mining operations and adopted the Sibanye-Stillwater name following its acquisition of Stillwater Mining Company in the United States in 2017.

Sibanye-Stillwater is primarily involved in the production of platinum-group metals, including platinum, palladium and rhodium, as well as gold and selected battery and base metals.