Sibanye Gold (NYSE:SBSW) Shares Gap Down on Analyst Downgrade

Sibanye Gold Limited (NYSE:SBSW) shares gapped down before the market opened on Wednesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. 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 traded.

Several other equities analysts also recently commented on the stock. Royal Bank Of Canada decreased their price objective on shares of 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 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 note on Tuesday, July 14th. Wall Street Zen raised shares of Sibanye Gold from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 6th. Citigroup upgraded shares of Sibanye Gold from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a research note on Thursday, August 13th. Finally, Weiss Ratings raised shares of Sibanye Gold from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.32.

Institutional Trading of Sibanye Gold

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its holdings in Sibanye Gold by 81.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,315,944 shares of the company’s stock valued at $104,252,000 after acquiring an additional 3,280,972 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Sibanye Gold during the 1st quarter worth $22,507,000. Assenagon Asset Management S.A. acquired a new stake in shares of Sibanye Gold during the 2nd quarter worth $9,126,000. BlueCrest Capital Management Ltd bought a new position in shares of Sibanye Gold in the second quarter worth $6,479,000. Finally, Goehring & Rozencwajg Associates LLC increased its position in shares of Sibanye Gold by 20.6% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 4,270,069 shares of the company’s stock worth $52,607,000 after purchasing an additional 730,389 shares during the period. Institutional investors and hedge funds own 34.93% of the company’s stock.

Sibanye Gold Price Performance

The stock has a 50 day moving average of $11.18 and a 200 day moving average of $10.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.72 and a quick ratio of 1.37.

Sibanye Gold Dividend Announcement

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

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.