Sibanye Gold (NYSE:SBSW) Trading Up 9.3% After Dividend Announcement

Shares of Sibanye Gold Limited (NYSE:SBSW) were up 9.3% during trading on Wednesday after the company announced a dividend. The stock traded as high as $12.59 and last traded at $12.7450. Approximately 945,580 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 6,043,111 shares. The stock had previously closed at $11.66.

The newly announced dividend which will be paid on Tuesday, October 6th. Investors of record on Friday, September 18th will be issued a $0.4985 dividend. The ex-dividend date is Friday, September 18th. This represents a yield of 795.0%.

Analyst Ratings Changes

A number of equities research analysts have commented on SBSW shares. BMO Capital Markets cut their target price on shares of 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. Zacks Research cut Sibanye Gold from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Wall Street Zen upgraded Sibanye Gold from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Weiss Ratings reaffirmed 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 objective for the company in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Sibanye Gold has a consensus rating of “Hold” and a consensus target price of $16.82.

Sibanye Gold Trading Up 4.4%

The business’s fifty day moving average is $9.86 and its 200-day moving average is $11.62. The company has a quick ratio of 0.86, a current ratio of 2.72 and a debt-to-equity ratio of 0.62.

Insider Buying and Selling at Sibanye Gold

In related news, Director Richard Menell acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $2.19 per share, for a total transaction of $32,850.00. Following the purchase, the director owned 25,125 shares in the company, valued at $55,023.75. The trade was a 148.15% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.05% of the stock is currently owned by insiders.

Institutional Trading of Sibanye Gold

Several institutional investors and hedge funds have recently modified their holdings of SBSW. AdvisorNet Financial Inc boosted its stake in shares of Sibanye Gold by 1,462.5% in the first quarter. AdvisorNet Financial Inc now owns 2,000 shares of the company’s stock worth $25,000 after acquiring an additional 1,872 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Sibanye Gold by 116.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,298 shares of the company’s stock valued at $37,000 after purchasing an additional 1,777 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Sibanye Gold by 40.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,481 shares of the company’s stock worth $39,000 after buying an additional 1,000 shares during the last quarter. GeoWealth Management LLC bought a new stake in shares of Sibanye Gold in the 3rd quarter worth about $43,000. Finally, US Bancorp DE raised its holdings in shares of Sibanye Gold by 2,664.2% in the third quarter. US Bancorp DE now owns 4,091 shares of the company’s stock worth $46,000 after buying an additional 3,943 shares during the period. 34.93% of the stock is currently owned by institutional investors.

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.