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

Sibanye Gold Limited (NYSE:SBSW)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $16.99, but opened at $14.35. Sibanye Gold shares last traded at $14.0550, with a volume of 3,365,905 shares changing hands.

Analyst Upgrades and Downgrades

SBSW has been the subject of several research reports. Wall Street Zen downgraded shares of Sibanye Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sibanye Gold in a research note on Thursday, January 22nd. Royal Bank Of Canada dropped their price target on Sibanye Gold from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. BMO Capital Markets raised their price objective on Sibanye Gold from $14.00 to $18.00 and gave the company a “market perform” rating in a report on Tuesday, February 3rd. Finally, HSBC raised Sibanye Gold from a “hold” rating to a “buy” rating and set a $24.80 target price for the company in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sibanye Gold currently has an average rating of “Moderate Buy” and a consensus target price of $19.93.

Sibanye Gold Trading Up 1.1%

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 1.78. The business’s fifty day moving average price is $16.64 and its 200 day moving average price is $12.89.

Sibanye Gold Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 20th will be issued a dividend of $0.2614 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a yield of 164.0%.

Hedge Funds Weigh In On Sibanye Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its position in Sibanye Gold by 4,334.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,430 shares of the company’s stock valued at $92,000 after purchasing an additional 6,285 shares during the period. Virtu Financial LLC bought a new stake in shares of Sibanye Gold in the 4th quarter valued at $666,000. Dorsey Wright & Associates boosted its stake in shares of Sibanye Gold by 3.8% in the 4th quarter. Dorsey Wright & Associates now owns 176,283 shares of the company’s stock valued at $2,512,000 after purchasing an additional 6,407 shares during the last quarter. Compound Planning Inc. increased its position in shares of Sibanye Gold by 17.5% during the fourth quarter. Compound Planning Inc. now owns 23,866 shares of the company’s stock worth $340,000 after buying an additional 3,553 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Sibanye Gold by 12.8% during the fourth quarter. Corient Private Wealth LLC now owns 25,387 shares of the company’s stock worth $362,000 after buying an additional 2,889 shares during the period. 34.93% of the stock is owned by institutional investors and hedge funds.

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.