Shares of Sibanye Gold Limited (NYSE:SBSW – Get Free Report) traded up 9.3% on Wednesday . The company traded as high as $12.59 and last traded at $12.7450. 945,580 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 6,043,111 shares. The stock had previously closed at $11.66.
Analyst Ratings Changes
Several research analysts have weighed in on SBSW shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sibanye Gold in a research report on Friday, July 17th. Citigroup raised Sibanye Gold from a “neutral” rating to a “buy” rating and set a $13.50 price objective for the company in a report on Thursday, August 13th. Zacks Research downgraded shares of Sibanye Gold from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Wall Street Zen upgraded shares of Sibanye Gold from a “hold” rating to a “buy” rating in a report on Saturday. Finally, BMO Capital Markets dropped their price target on shares of Sibanye Gold from $14.00 to $12.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.82.
Read Our Latest Stock Analysis on SBSW
Sibanye Gold Stock Up 7.3%
Insiders Place Their Bets
In other Sibanye Gold news, Director Richard Peter Menell purchased 15,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of $2.19 per share, with a total value of $32,850.00. Following the acquisition, the director directly owned 25,125 shares of the company’s stock, valued at $55,023.75. This trade represents a 148.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.05% of the company’s stock.
Hedge Funds Weigh In On Sibanye Gold
Several institutional investors and hedge funds have recently modified their holdings of the stock. AdvisorNet Financial Inc lifted its stake in shares of Sibanye Gold by 1,462.5% during the 1st quarter. AdvisorNet Financial Inc now owns 2,000 shares of the company’s stock worth $25,000 after buying an additional 1,872 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Sibanye Gold by 116.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,298 shares of the company’s stock worth $37,000 after buying an additional 1,777 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Sibanye Gold by 40.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,481 shares of the company’s stock valued at $39,000 after buying an additional 1,000 shares during the last quarter. GeoWealth Management LLC acquired a new position in Sibanye Gold in the 3rd quarter valued at about $43,000. Finally, US Bancorp DE raised its holdings in Sibanye Gold by 2,664.2% in the 3rd quarter. US Bancorp DE now owns 4,091 shares of the company’s stock valued at $46,000 after acquiring an additional 3,943 shares during the period. 34.93% of the stock is currently owned by institutional investors and hedge funds.
About Sibanye Gold
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.
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