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

Key Points

• Sibanye Gold shares fell 2.6%: The stock opened at $9.43 versus its prior close of $10.01 and last traded near $9.71, below its 50-day and 200-day moving averages.
• Analyst sentiment remains moderately bullish: Ratings include three Buys and three Holds, producing a “Moderate Buy” consensus with an average price target of $16.32.
• Institutional ownership increased: Several major investors added or initiated positions, while institutional investors and hedge funds collectively own 34.93% of the company.

Sibanye Gold Limited (NYSE:SBSW - Get Free Report) gapped down prior to trading on Wednesday. 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 changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. 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. Royal Bank Of Canada cut their price objective on shares of Sibanye Gold from $16.50 to $15.00 and set an "outperform" rating for the company in a report on Wednesday, September 16th. Zacks Research upgraded shares of Sibanye Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. BMO Capital Markets reduced 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. Finally, Wall Street Zen upgraded Sibanye Gold from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 6th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.32.

Sibanye Gold Stock Down 2.6%

The stock's fifty day moving average price is $11.14 and its two-hundred day moving average price is $11.01. The company has a current ratio of 2.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.62.

Sibanye Gold Announces Dividend

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

Institutional Investors Weigh In On Sibanye Gold

A number of large investors have recently modified their holdings of SBSW. 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 buying an additional 3,280,972 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Sibanye Gold during the 1st quarter worth approximately $22,507,000. Assenagon Asset Management S.A. bought a new stake in Sibanye Gold during the 2nd quarter worth approximately $9,126,000. BlueCrest Capital Management Ltd acquired a new position in Sibanye Gold in the 2nd quarter valued at approximately $6,479,000. Finally, Goehring & Rozencwajg Associates LLC raised its stake in shares of Sibanye Gold by 20.6% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 4,270,069 shares of the company's stock valued at $52,607,000 after acquiring an additional 730,389 shares during the last quarter. Institutional investors and hedge funds own 34.93% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.