Sibanye Gold (NYSE:SBSW) Sets New 1-Year High - Here's Why

Key Points

• Sibanye Gold's stock reached a new 52-week high at $9.90 with a trading volume of 720,874 shares, after closing at $9.54 previously.
• Analyst ratings show that BMO Capital Markets raised its price target for Sibanye Gold from $7.00 to $8.50, while Wall Street Zen downgraded the stock from "strong-buy" to "buy."
• Institutional investors own 34.93% of Sibanye Gold, with significant increases in holdings by several large investors during the second quarter.

Sibanye Gold Limited (NYSE:SBSW - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $9.90 and last traded at $9.78, with a volume of 720874 shares changing hands. The stock had previously closed at $9.54.

Analyst Upgrades and Downgrades

SBSW has been the topic of several research reports. Wall Street Zen cut shares of Sibanye Gold from a "strong-buy" rating to a "buy" rating in a research report on Saturday. BMO Capital Markets upped their price target on Sibanye Gold from $7.00 to $8.50 and gave the stock a "market perform" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Sibanye Gold presently has a consensus rating of "Hold" and an average target price of $6.07.

Sibanye Gold Stock Performance

The business has a fifty day moving average of $8.63 and a two-hundred day moving average of $6.58. The company has a quick ratio of 1.53, a current ratio of 2.89 and a debt-to-equity ratio of 0.96.

Hedge Funds Weigh In On Sibanye Gold

A number of hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. acquired a new stake in shares of Sibanye Gold during the fourth quarter valued at about $35,000. Bank of America Corp DE grew its stake in Sibanye Gold by 16.1% during the 4th quarter. Bank of America Corp DE now owns 85,825 shares of the company's stock valued at $283,000 after purchasing an additional 11,916 shares in the last quarter. Vident Advisory LLC increased its holdings in Sibanye Gold by 24.1% during the 4th quarter. Vident Advisory LLC now owns 217,422 shares of the company's stock worth $717,000 after purchasing an additional 42,219 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new stake in shares of Sibanye Gold in the fourth quarter worth $67,000. Finally, Comprehensive Money Management Services LLC acquired a new stake in shares of Sibanye Gold in the 4th quarter valued at about $126,000. Hedge funds and other institutional investors own 34.93% of the company's stock.

About Sibanye Gold

Sibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia. The company produces gold; platinum group metals (PGMs), including palladium, platinum, rhodium, iridium, and ruthenium; chrome; nickel; and silver, cobalt, and copper.