Assenagon Asset Management S.A. Invests $9.13 Million in Sibanye Gold Limited $SBSW

Key Points

• Assenagon Asset Management purchased 1.07 million Sibanye Gold shares worth approximately $9.13 million, giving it a 0.15% stake. Institutional investors collectively own 34.93% of the company.
• Analyst sentiment is cautious: Sibanye Gold has an average “Hold” rating and a consensus price target of $17.93, while several firms recently downgraded the stock or lowered their price targets.
• SBSW shares opened at $10.63, compared with a 12-month range of $7.09 to $21.29; the stock’s 50-day and 200-day moving averages were $9.19 and $12.35, respectively.

Assenagon Asset Management S.A. purchased a new stake in Sibanye Gold Limited (NYSE:SBSW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,074,967 shares of the company's stock, valued at approximately $9,126,000. Assenagon Asset Management S.A. owned approximately 0.15% of Sibanye Gold at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Sibanye Gold by 113.9% in the 1st quarter. AQR Capital Management LLC now owns 39,909 shares of the company's stock valued at $183,000 after purchasing an additional 21,248 shares in the last quarter. Millennium Management LLC lifted its holdings in Sibanye Gold by 363.7% during the 1st quarter. Millennium Management LLC now owns 3,171,659 shares of the company's stock valued at $14,526,000 after purchasing an additional 2,487,648 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Sibanye Gold by 196.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,576,255 shares of the company's stock valued at $16,379,000 after purchasing an additional 2,370,443 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Sibanye Gold in the first quarter valued at about $55,000. Finally, Envestnet Asset Management Inc. acquired a new position in Sibanye Gold in the second quarter valued at about $186,000. 34.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on SBSW shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sibanye Gold in a report on Friday, July 17th. Zacks Research downgraded Sibanye Gold from a "hold" rating to a "strong sell" rating in a report on Thursday, July 9th. Wall Street Zen lowered Sibanye Gold from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, BMO Capital Markets dropped their price target on Sibanye Gold from $14.00 to $12.00 and set a "market perform" rating for the company in a report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Sibanye Gold presently has an average rating of "Hold" and a consensus price target of $17.93.

Sibanye Gold Stock Performance

Shares of NYSE:SBSW opened at $10.63 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.78 and a quick ratio of 0.86. Sibanye Gold Limited has a 12 month low of $7.09 and a 12 month high of $21.29. The company's 50-day moving average price is $9.19 and its two-hundred day moving average price is $12.35.

Insider Activity

In related news, Director Richard Peter Menell purchased 15,000 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of $2.19 per share, with a total value of $32,850.00. Following the completion of the purchase, the director directly owned 25,125 shares of the company's stock, valued at $55,023.75. This trade represents a 148.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.05% of the company's stock.

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.

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