Sibanye Gold (NYSE:SBSW) Reaches New 1-Year High After Analyst Upgrade

Sibanye Gold Limited (NYSE:SBSW)’s stock price reached a new 52-week high during trading on Saturday after HSBC upgraded the stock from a hold rating to a buy rating. HSBC now has a $24.80 price target on the stock. Sibanye Gold traded as high as $19.54 and last traded at $19.4560, with a volume of 12226523 shares traded. The stock had previously closed at $18.15.

Several other analysts have also recently weighed in on the stock. Zacks Research raised shares of Sibanye Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sibanye Gold in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Sibanye Gold from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.87.

Institutional Investors Weigh In On Sibanye Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Foster Group Inc. bought a new position in Sibanye Gold during the third quarter valued at about $1,424,000. Arrowstreet Capital Limited Partnership raised its position in Sibanye Gold by 1,136.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,495,525 shares of the company’s stock worth $25,238,000 after acquiring an additional 3,212,833 shares during the period. GAMMA Investing LLC boosted its stake in Sibanye Gold by 112.2% in the second quarter. GAMMA Investing LLC now owns 4,213 shares of the company’s stock valued at $30,000 after acquiring an additional 2,228 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Sibanye Gold by 32,992.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,405,288 shares of the company’s stock valued at $46,246,000 after acquiring an additional 6,385,932 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Sibanye Gold by 31.2% during the 2nd quarter. American Century Companies Inc. now owns 1,996,606 shares of the company’s stock valued at $14,415,000 after acquiring an additional 474,386 shares during the period. 34.93% of the stock is owned by institutional investors.

Sibanye Gold Stock Up 7.2%

The company’s 50 day moving average price is $14.31 and its 200-day moving average price is $11.27. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.53 and a current ratio of 2.89.

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.