Sibanye Stillwater (NYSE:SBSW) Shares Gap Up - Still a Buy?

Shares of Sibanye Stillwater Limited (NYSE:SBSW - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $6.03, but opened at $6.52. Sibanye Stillwater shares last traded at $6.62, with a volume of 6,929,632 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SBSW shares. Royal Bank of Canada upgraded Sibanye Stillwater from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $4.70 to $5.30 in a research note on Tuesday, March 18th. Wall Street Zen downgraded shares of Sibanye Stillwater from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $5.05.

Sibanye Stillwater Trading Up 3.7%

The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 12.96 and a beta of 0.72. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.09 and a quick ratio of 1.04. The firm's 50-day simple moving average is $4.95 and its 200 day simple moving average is $4.21.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new position in shares of Sibanye Stillwater during the first quarter worth $343,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Sibanye Stillwater during the first quarter worth $55,000. Goldman Sachs Group Inc. increased its holdings in Sibanye Stillwater by 196.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,576,255 shares of the company's stock valued at $16,379,000 after purchasing an additional 2,370,443 shares during the period. Millennium Management LLC increased its holdings in Sibanye Stillwater by 363.7% in the first quarter. Millennium Management LLC now owns 3,171,659 shares of the company's stock valued at $14,526,000 after purchasing an additional 2,487,648 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Sibanye Stillwater 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 purchasing an additional 21,248 shares during the period. 34.93% of the stock is currently owned by institutional investors and hedge funds.

About Sibanye Stillwater

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.