Sibanye Gold (SBGL) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Sibanye Gold (NYSE:SBGL) from a buy rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Sibanye Gold Limited is a gold mining company. It operates two gold mines: the Kloof Driefontein Complex (KDC) and the Beatrix gold mines. Sibanye Gold Limited is based in Houghton, South Africa. “

SBGL has been the subject of a number of other reports. BidaskClub upgraded shares of Sibanye Gold from a hold rating to a buy rating in a report on Friday, August 11th. ValuEngine upgraded shares of Sibanye Gold from a hold rating to a buy rating in a report on Monday, October 2nd. Deutsche Bank upgraded shares of Sibanye Gold from a sell rating to a hold rating in a report on Friday, October 13th. Finally, Morgan Stanley upgraded shares of Sibanye Gold from an equal weight rating to an overweight rating in a report on Monday, October 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Sibanye Gold has a consensus rating of Buy and a consensus price target of $5.25.

Shares of Sibanye Gold (NYSE SBGL) traded down $0.17 during midday trading on Wednesday, reaching $4.89. 3,196,300 shares of the company were exchanged, compared to its average volume of 3,433,503. Sibanye Gold has a 52 week low of $4.36 and a 52 week high of $10.81. The company has a quick ratio of 0.83, a current ratio of 1.03 and a debt-to-equity ratio of 0.93.

A number of large investors have recently bought and sold shares of SBGL. Van ECK Associates Corp grew its position in Sibanye Gold by 217.0% in the 2nd quarter. Van ECK Associates Corp now owns 51,562,596 shares of the basic materials company’s stock worth $238,735,000 after purchasing an additional 35,298,306 shares during the period. Dimensional Fund Advisors LP grew its position in Sibanye Gold by 95.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,002,276 shares of the basic materials company’s stock worth $27,795,000 after purchasing an additional 2,923,704 shares during the period. Wells Fargo & Company MN grew its position in Sibanye Gold by 145.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,210,607 shares of the basic materials company’s stock worth $5,605,000 after purchasing an additional 717,013 shares during the period. JPMorgan Chase & Co. grew its position in Sibanye Gold by 18,003.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 630,365 shares of the basic materials company’s stock worth $2,850,000 after purchasing an additional 626,883 shares during the period. Finally, Tocqueville Asset Management L.P. grew its position in Sibanye Gold by 74.4% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 984,446 shares of the basic materials company’s stock worth $4,558,000 after purchasing an additional 420,026 shares during the period. 36.60% of the stock is owned by institutional investors and hedge funds.

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Sibanye Gold Company Profile

Sibanye Gold Limited is an independent, global precious metal mining company. The Company is engaged in producing a mix of metals that includes gold and the platinum group metals (PGMs). Its projects are grouped by two regions: the Southern Africa region and the Americas region. Its products include gold, platinum group metals and by-products.

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