Sibanye Gold (NYSE:SBSW) Shares Gap Down - Here's What Happened

Key Points

• Sibanye Gold shares fell 4.4%, opening at $11.56 versus the prior close of $12.05, with about 768,586 shares traded.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and an average price target of $16.32, despite recent upgrades from Citigroup and Zacks Research.
• The company announced a $0.4985 dividend payable October 6 to shareholders of record September 18, while institutional investors collectively own approximately 34.93% of the stock.

Sibanye Gold Limited (NYSE:SBSW - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $12.05, but opened at $11.56. Sibanye Gold shares last traded at $11.5510, with a volume of 768,586 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Zacks Research upgraded shares of Sibanye Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sibanye Gold in a report on Friday, July 17th. Citigroup upgraded Sibanye Gold from a "neutral" rating to a "buy" rating and set a $13.50 target price for the company in a research note on Thursday, August 13th. Wall Street Zen upgraded Sibanye Gold from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 6th. Finally, BMO Capital Markets reduced their price objective 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. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $16.32.

Sibanye Gold Stock Down 4.4%

The company has a current ratio of 2.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $10.60 and a 200-day moving average price of $11.34.

Sibanye Gold Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, October 6th. Investors of record on Friday, September 18th will be paid a $0.4985 dividend. This represents a yield of 867.0%. The ex-dividend date of this dividend is Friday, September 18th.

Insider Transactions at Sibanye Gold

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

Institutional Trading of Sibanye Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Sibanye Gold by 21.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,903,127 shares of the company's stock worth $109,687,000 after acquiring an additional 1,587,183 shares during the last quarter. Goehring & Rozencwajg Associates LLC grew its holdings in shares of Sibanye Gold by 20.6% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 4,270,069 shares of the company's stock valued at $52,607,000 after purchasing an additional 730,389 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Sibanye Gold by 31.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,762,347 shares of the company's stock worth $33,977,000 after purchasing an additional 655,929 shares during the period. BNP Paribas Financial Markets raised its position in Sibanye Gold by 28.7% in the 4th quarter. BNP Paribas Financial Markets now owns 2,255,549 shares of the company's stock worth $32,142,000 after purchasing an additional 503,180 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Sibanye Gold in the first quarter worth $22,507,000. Hedge funds and other institutional investors own 34.93% of the company's stock.

About Sibanye Gold

Sibanye-Stillwater, formerly known as Sibanye Gold, is a multinational mining and metals company headquartered in South Africa. The company was established in 2012 through the restructuring of Gold Fields' South African assets and adopted the Sibanye-Stillwater name in 2016 as it expanded beyond gold mining.

The company produces gold, platinum-group metals (PGMs), and associated by-products. Its operations have included gold mines in South Africa; platinum, palladium, rhodium and other PGM assets in South Africa and the United States; and PGM recycling activities.

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