Sibanye Stillwater (NYSE:SBSW) Shares Gap Up - Should You Buy?

Sibanye Stillwater Limited (NYSE:SBSW - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $4.48, but opened at $4.79. Sibanye Stillwater shares last traded at $4.91, with a volume of 4,913,219 shares changing hands.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upgraded shares of Sibanye Stillwater from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $4.70 to $5.30 in a report on Tuesday, March 18th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Sibanye Stillwater currently has an average rating of "Hold" and an average price target of $5.05.

Sibanye Stillwater Stock Performance

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 company has a market cap of $3.56 billion, a P/E ratio of 9.67 and a beta of 1.08. The stock's 50-day moving average price is $3.97 and its 200-day moving average price is $3.99.

Hedge Funds Weigh In On Sibanye Stillwater

A number of hedge funds have recently added to or reduced their stakes in the stock. Goehring & Rozencwajg Associates LLC bought a new stake in Sibanye Stillwater during the fourth quarter worth $9,446,000. Raymond James Financial Inc. acquired a new stake in Sibanye Stillwater in the fourth quarter valued at approximately $5,814,000. D. E. Shaw & Co. Inc. grew its stake in shares of Sibanye Stillwater by 28.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 6,541,857 shares of the company's stock worth $21,588,000 after buying an additional 1,439,882 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Sibanye Stillwater by 1,673.5% during the fourth quarter. Northern Trust Corp now owns 1,014,294 shares of the company's stock worth $3,347,000 after buying an additional 957,103 shares in the last quarter. Finally, Trek Financial LLC bought a new position in shares of Sibanye Stillwater in the 4th quarter valued at $2,803,000. Institutional investors own 34.93% of the company's stock.

Sibanye Stillwater Company Profile

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.