Lazard Asset Management LLC Acquires Shares of 286,333 Sibanye Gold Limited $SBSW

Key Points

• Lazard Asset Management initiated a position in Sibanye Gold, buying 286,333 shares valued at approximately $3.53 million during the first quarter.
• Other institutional investors also increased their holdings, including Millennium Management and Goldman Sachs; institutions collectively own 34.93% of the company.
• Analyst sentiment is cautious: Sibanye Gold has an average rating of “Hold”, with a consensus price target of $17.93, while recent firms issued downgrades and “Sell” recommendations.

Lazard Asset Management LLC bought a new position in shares of Sibanye Gold Limited (NYSE:SBSW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 286,333 shares of the company's stock, valued at approximately $3,528,000.

Several other hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC boosted its stake in shares of Sibanye Gold by 113.9% in the first quarter. AQR Capital Management LLC now owns 39,909 shares of the company's stock valued at $183,000 after buying an additional 21,248 shares during the period. Millennium Management LLC increased its stake in Sibanye Gold by 363.7% during the 1st quarter. Millennium Management LLC now owns 3,171,659 shares of the company's stock worth $14,526,000 after acquiring an additional 2,487,648 shares during the period. Goldman Sachs Group Inc. increased its stake 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 worth $16,379,000 after acquiring an additional 2,370,443 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Sibanye Gold in the 1st quarter valued at $55,000. Finally, Envestnet Asset Management Inc. acquired a new position in Sibanye Gold in the 2nd quarter valued at $186,000. 34.93% of the stock is owned by institutional investors.

Sibanye Gold Price Performance

Shares of NYSE:SBSW opened at $8.82 on Friday. Sibanye Gold Limited has a 1 year low of $7.09 and a 1 year 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 company's 50 day simple moving average is $9.45 and its 200 day simple moving average is $12.73.

Insider Buying and Selling at Sibanye Gold

In other Sibanye Gold news, Director Richard Peter Menell bought 15,000 shares of Sibanye Gold stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $2.19 per share, with a total value of $32,850.00. Following the acquisition, the director owned 25,125 shares in the company, valued at $55,023.75. This trade represents a 148.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.05% of the company's stock.

Wall Street Analysts Forecast Growth

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

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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