Sibanye Gold (NYSE:SBSW) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Sibanye Gold (NYSE:SBSW) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Several other brokerages have also commented on SBSW. BMO Capital Markets increased their price objective on shares of Sibanye Gold from $14.00 to $18.00 and gave the company a “market perform” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada decreased their price target on shares of Sibanye Gold from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. 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 reissued a “sell (d-)” rating on shares of Sibanye Gold in a report on Tuesday, April 21st. Finally, HSBC raised Sibanye Gold from a “hold” rating to a “buy” rating and set a $24.80 target price on the stock in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sibanye Gold presently has an average rating of “Hold” and an average target price of $19.93.

Sibanye Gold Trading Down 3.3%

NYSE SBSW traded down $0.40 during trading on Monday, hitting $11.53. The company’s stock had a trading volume of 2,879,873 shares, compared to its average volume of 6,986,615. Sibanye Gold has a fifty-two week low of $4.43 and a fifty-two week 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 50 day simple moving average is $13.49 and its 200-day simple moving average is $13.84.

Sibanye Gold Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Thursday, April 2nd. Stockholders of record on Friday, March 20th were issued a $0.2614 dividend. This represents a dividend yield of 292.0%. The ex-dividend date of this dividend was Friday, March 20th.

Insiders Place Their Bets

In other Sibanye Gold news, Director Thabane Vincent Maphai bought 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was bought at an average cost of $13.34 per share, for a total transaction of $160,080.00. Following the completion of the transaction, the director directly owned 140,178 shares of the company’s stock, valued at approximately $1,869,974.52. This trade represents a 9.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Peter Menell purchased 2,500 shares of the stock in a transaction on Tuesday, March 24th. The stock was acquired at an average cost of $11.43 per share, for a total transaction of $28,575.00. Following the completion of the acquisition, the director owned 2,500 shares of the company’s stock, valued at $28,575. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sibanye Gold

Several institutional investors and hedge funds have recently modified their holdings of SBSW. AQR Capital Management LLC grew its holdings in Sibanye Gold by 113.9% during the first quarter. AQR Capital Management LLC now owns 39,909 shares of the company’s stock worth $183,000 after acquiring an additional 21,248 shares during the period. Millennium Management LLC lifted its holdings in Sibanye Gold by 363.7% in the first quarter. Millennium Management LLC now owns 3,171,659 shares of the company’s stock valued at $14,526,000 after acquiring an additional 2,487,648 shares during the period. Goldman Sachs Group Inc. boosted its position in Sibanye Gold by 196.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,576,255 shares of the company’s stock worth $16,379,000 after purchasing an additional 2,370,443 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Sibanye Gold in the 1st quarter worth approximately $55,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Sibanye Gold during the 2nd quarter worth approximately $186,000. Institutional investors and hedge funds 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.