Sibanye Stillwater (NYSE:SBSW) Shares Gap Down – Here’s What Happened

Shares of Sibanye Stillwater Limited (NYSE:SBSW) gapped down prior to trading on Monday . The stock had previously closed at $5.11, but opened at $4.80. Sibanye Stillwater shares last traded at $4.67, with a volume of 2,025,267 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised Sibanye Stillwater from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $4.70 to $5.30 in a research note on Tuesday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.05.

Sibanye Stillwater Stock Performance

The stock’s 50-day moving average is $4.33 and its 200 day moving average is $4.04. The firm has a market cap of $3.27 billion, a P/E ratio of 8.86 and a beta of 0.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 2.09.

Hedge Funds Weigh In On Sibanye Stillwater

Large investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of Sibanye Stillwater in the 4th quarter valued at about $25,000. Ameriprise Financial Inc. bought a new position in shares of Sibanye Stillwater during the fourth quarter worth approximately $35,000. Peapack Gladstone Financial Corp bought a new position in shares of Sibanye Stillwater during the fourth quarter worth approximately $41,000. Rhumbline Advisers increased its holdings in shares of Sibanye Stillwater by 32.3% during the fourth quarter. Rhumbline Advisers now owns 12,790 shares of the company’s stock worth $42,000 after purchasing an additional 3,120 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Sibanye Stillwater by 590.8% during the first quarter. GAMMA Investing LLC now owns 9,091 shares of the company’s stock worth $42,000 after purchasing an additional 7,775 shares during the period. Institutional investors own 34.93% of the company’s stock.

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.