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

Sibanye Stillwater Limited (NYSE:SBSW) shares gapped down prior to trading on Thursday . The stock had previously closed at $4.48, but opened at $4.28. Sibanye Stillwater shares last traded at $4.34, with a volume of 1,830,387 shares traded.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised Sibanye Stillwater from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $4.70 to $5.30 in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.05.

Sibanye Stillwater Price Performance

The firm has a market capitalization of $3.05 billion, a P/E ratio of 8.32 and a beta of 1.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 2.09. The firm has a 50-day moving average of $3.72 and a 200-day moving average of $3.96.

Institutional Investors Weigh In On Sibanye Stillwater

A number of hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its stake in Sibanye Stillwater by 6.7% during the 3rd quarter. HighTower Advisors LLC now owns 48,632 shares of the company’s stock valued at $199,000 after buying an additional 3,045 shares during the last quarter. Aire Advisors LLC raised its stake in Sibanye Stillwater by 5.3% during the 4th quarter. Aire Advisors LLC now owns 61,060 shares of the company’s stock valued at $201,000 after buying an additional 3,060 shares during the last quarter. Rhumbline Advisers raised its stake in Sibanye Stillwater by 32.3% during the 4th quarter. Rhumbline Advisers now owns 12,790 shares of the company’s stock valued at $42,000 after buying an additional 3,120 shares during the last quarter. Banco Santander S.A. raised its stake in Sibanye Stillwater by 16.9% during the 4th quarter. Banco Santander S.A. now owns 29,974 shares of the company’s stock valued at $99,000 after buying an additional 4,344 shares during the last quarter. Finally, United Capital Financial Advisors LLC raised its stake in Sibanye Stillwater by 32.1% during the 4th quarter. United Capital Financial Advisors LLC now owns 19,640 shares of the company’s stock valued at $65,000 after buying an additional 4,768 shares during the last quarter. 34.93% of the stock is currently owned by hedge funds and other institutional investors.

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.