Sibanye Gold (NYSE:SBSW) Trading Down 3.7% - Here's What Happened

Key Points

• Sibanye Gold shares fell 3.7% to about $11.22, with trading volume roughly 89% below the stock’s average daily volume.
• Analyst sentiment remains mixed: three analysts rate the stock Buy, two Hold, and one Sell, resulting in a consensus Hold rating and an average price target of $16.32.
• The company declared a $0.4985-per-share dividend, payable October 6 to shareholders of record on September 18; institutional investors own approximately 34.93% of the stock.

Sibanye Gold Limited (NYSE:SBSW - Get Free Report)'s stock price fell 3.7% during trading on Monday . The stock traded as low as $11.36 and last traded at $11.2230. Approximately 676,007 shares changed hands during trading, a decline of 89% from the average daily volume of 5,993,516 shares. The stock had previously closed at $11.66.

Analyst Ratings Changes

A number of analysts have recently issued reports on SBSW shares. Citigroup raised 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sibanye Gold in a research note on Friday, July 17th. BMO Capital Markets dropped 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 report on Tuesday, July 14th. Royal Bank Of Canada decreased their price target on shares of Sibanye Gold from $16.50 to $15.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 16th. Finally, Wall Street Zen raised shares of Sibanye Gold from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 6th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $16.32.

Sibanye Gold Trading Down 4.8%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.37 and a current ratio of 2.72. The stock has a 50-day moving average of $10.67 and a 200 day moving average of $11.30.

Sibanye Gold Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Friday, September 18th will be given a dividend of $0.4985 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a dividend yield of 856.0%.

Insider Activity

In other news, Director Richard Menell acquired 15,000 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased 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 owned 25,125 shares in the company, valued at approximately $55,023.75. This trade represents a 148.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.05% of the company's stock.

Institutional Trading of Sibanye Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. 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 worth $52,607,000 after purchasing an additional 730,389 shares during the period. Engineers Gate Manager LP lifted its position in Sibanye Gold by 67.9% in the second quarter. Engineers Gate Manager LP now owns 518,732 shares of the company's stock valued at $4,404,000 after buying an additional 209,804 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Sibanye Gold during the second quarter worth about $9,126,000. BlueCrest Capital Management Ltd purchased a new position in Sibanye Gold during the second quarter worth about $6,479,000. Finally, MAC Alpha Capital Management LP lifted its holdings in shares of Sibanye Gold by 81.4% in the 2nd quarter. MAC Alpha Capital Management LP now owns 1,588,307 shares of the company's stock worth $13,486,000 after acquiring an additional 712,537 shares during the last quarter. Institutional investors and hedge funds own 34.93% of the company's stock.

Sibanye Gold Company Profile

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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