Sibanye Gold (NYSE:SBSW) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of Sibanye Gold (NYSE:SBSW) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sibanye Gold in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Sibanye Gold currently has an average rating of “Hold” and an average price target of $19.93.

Sibanye Gold Stock Down 0.2%

NYSE:SBSW traded down $0.02 during mid-day trading on Thursday, reaching $8.54. The company’s stock had a trading volume of 4,143,794 shares, compared to its average volume of 5,341,612. 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 company’s fifty day simple moving average is $10.67 and its two-hundred day simple moving average is $13.42. Sibanye Gold has a twelve month low of $7.09 and a twelve month high of $21.29.

Insiders Place Their Bets

In other Sibanye Gold news, Director Richard Peter Menell purchased 15,000 shares of Sibanye Gold stock in a transaction on Tuesday, June 30th. The shares were purchased at an average cost of $2.19 per share, with a total value of $32,850.00. Following the completion of the transaction, the director directly owned 25,125 shares in the company, valued at approximately $55,023.75. This represents a 148.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sibanye Gold

A number of hedge funds have recently made changes to their positions in SBSW. AQR Capital Management LLC lifted its holdings in shares of Sibanye Gold by 113.9% during the 1st quarter. AQR Capital Management LLC now owns 39,909 shares of the company’s stock valued at $183,000 after acquiring an additional 21,248 shares in the last quarter. Millennium Management LLC increased its holdings in 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 purchasing an additional 2,487,648 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Sibanye Gold by 196.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,576,255 shares of the company’s stock valued at $16,379,000 after purchasing an additional 2,370,443 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Sibanye Gold in the first quarter valued at about $55,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Sibanye Gold during the second quarter worth about $186,000. 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.