Sibanye Gold (NYSE:SBSW) Price Target Raised to $18.00

Sibanye Gold (NYSE:SBSW) had its target price boosted by BMO Capital Markets from $14.00 to $18.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 4.40% from the company’s current price.

Several other research analysts have also weighed in on the stock. Hsbc Global Res upgraded shares of Sibanye Gold to a “strong-buy” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sibanye Gold in a research note on Thursday, January 22nd. Zacks Research raised shares of Sibanye Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Wall Street Zen raised Sibanye Gold from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Finally, HSBC upgraded Sibanye Gold from a “hold” rating to a “buy” rating and set a $24.80 target price on the stock in a report on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.03.

Sibanye Gold Stock Up 2.2%

NYSE:SBSW traded up $0.37 during mid-day trading on Tuesday, hitting $17.24. 5,230,308 shares of the company’s stock traded hands, compared to its average volume of 8,991,364. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.53 and a current ratio of 2.89. The firm’s 50 day simple moving average is $15.24 and its 200 day simple moving average is $11.75. Sibanye Gold has a 1 year low of $3.05 and a 1 year high of $21.29.

Institutional Investors Weigh In On Sibanye Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of 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 acquiring an additional 6,385,932 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Sibanye Gold by 1,136.5% during 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 last quarter. Assenagon Asset Management S.A. raised its position 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 valued at $36,490,000 after purchasing an additional 3,119,075 shares in the last quarter. ABC Arbitrage SA boosted its stake in shares of Sibanye Gold by 260.1% during the 3rd quarter. ABC Arbitrage SA now owns 4,032,812 shares of the company’s stock valued at $45,329,000 after buying an additional 2,912,995 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Sibanye Gold by 363.7% during the first quarter. Millennium Management LLC now owns 3,171,659 shares of the company’s stock worth $14,526,000 after buying an additional 2,487,648 shares in the last quarter. Hedge funds and other 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.