Sibanye Gold (NYSE:SBSW) Sets New 12-Month High – Here’s Why

Shares of Sibanye Gold Limited (NYSE:SBSW) hit a new 52-week high on Monday . The stock traded as high as $17.05 and last traded at $16.9170, with a volume of 1459264 shares. The stock had previously closed at $15.65.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Zacks Research upgraded shares of Sibanye Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Sibanye Gold in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Sibanye Gold from a “buy” rating to a “strong-buy” rating in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.90.

Sibanye Gold Trading Up 7.8%

The stock’s 50 day moving average is $12.99 and its 200-day moving average is $10.60. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.89 and a quick ratio of 1.53.

Institutional Investors Weigh In On Sibanye Gold

Several institutional investors and hedge funds have recently made changes to their positions in SBSW. JPMorgan Chase & Co. boosted its position in Sibanye Gold by 32,992.0% in the second quarter. JPMorgan Chase & Co. now owns 6,405,288 shares of the company’s stock worth $46,246,000 after purchasing an additional 6,385,932 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Sibanye Gold by 1,136.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,495,525 shares of the company’s stock worth $25,238,000 after purchasing an additional 3,212,833 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Sibanye Gold by 2,449.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,246,397 shares of the company’s stock worth $36,490,000 after purchasing an additional 3,119,075 shares during the period. ABC Arbitrage SA boosted its holdings in shares of Sibanye Gold by 260.1% in the third quarter. ABC Arbitrage SA now owns 4,032,812 shares of the company’s stock worth $45,329,000 after buying an additional 2,912,995 shares during the last quarter. Finally, Millennium Management LLC grew its position in Sibanye Gold by 363.7% during the first quarter. Millennium Management LLC now owns 3,171,659 shares of the company’s stock valued at $14,526,000 after buying an additional 2,487,648 shares during the period. Institutional investors own 34.93% of the company’s stock.

Sibanye Gold Company Profile

Sibanye Gold (NYSE:SBSW) is a precious metals mining company headquartered in Johannesburg, South Africa. The company’s core operations focus on the extraction, processing and exploration of gold. Through its South African gold mining operations, Sibanye Gold produces doré bars, gold in concentrate and carbon-in-leach product, leveraging both underground and surface mining techniques. The company also generates by-products such as uranium, copper and nickel, reflecting its commitment to maximizing resource recovery.

In addition to its South African footprint, Sibanye Gold has expanded into the platinum‐group metals (PGM) sector through its acquisition of Stillwater Mining Company in 2017.