Sibanye Gold (NYSE:SBSW) Shares Gap Up – Here’s What Happened

Sibanye Gold Limited (NYSE:SBSW)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.14, but opened at $11.82. Sibanye Gold shares last traded at $12.0240, with a volume of 1,153,413 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SBSW shares. Weiss Ratings restated a “sell (d-)” rating on shares of Sibanye Gold in a research note on Thursday, January 22nd. HSBC raised Sibanye Gold from a “hold” rating to a “buy” rating and set a $24.80 target price on the stock in a research report on Friday, January 23rd. Wall Street Zen cut Sibanye Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Royal Bank Of Canada dropped their price target on shares of Sibanye Gold from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Finally, Zacks Research raised shares of Sibanye Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.93.

Sibanye Gold Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.78 and a debt-to-equity ratio of 0.73. The stock has a 50 day moving average of $15.33 and a 200 day moving average of $13.51.

Sibanye Gold Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 20th will be issued a dividend of $0.2614 per share. This represents a yield of 292.0%. The ex-dividend date of this dividend is Friday, March 20th.

Insider Activity at Sibanye Gold

In other news, Director Richard Peter Menell purchased 2,500 shares of the stock in a transaction dated Tuesday, March 24th. The stock was acquired at an average cost of $11.43 per share, for a total transaction of $28,575.00. Following the acquisition, the director owned 2,500 shares of the company’s stock, valued at $28,575. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thabane Vincent Maphai purchased 12,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average cost of $13.34 per share, for a total transaction of $160,080.00. Following the completion of the transaction, the director owned 140,178 shares in the company, valued at approximately $1,869,974.52. This represents a 9.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.05% of the stock is currently owned by company insiders.

Institutional Trading of Sibanye Gold

Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its holdings in shares of Sibanye Gold by 113.9% during the first quarter. AQR Capital Management LLC now owns 39,909 shares of the company’s stock worth $183,000 after purchasing an additional 21,248 shares during the period. Millennium Management LLC boosted its holdings in shares of Sibanye Gold by 363.7% in the 1st 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. Goldman Sachs Group Inc. grew its position in shares of Sibanye Gold by 196.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,576,255 shares of the company’s stock valued at $16,379,000 after buying an additional 2,370,443 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Sibanye Gold during the 1st quarter valued at about $55,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Sibanye Gold during the second quarter worth about $186,000. 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.