Sibanye Gold (NYSE:SBSW) Price Target Lowered to $12.00 at BMO Capital Markets

Sibanye Gold (NYSE:SBSW) had its target price reduced by research analysts at BMO Capital Markets from $14.00 to $12.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 42.77% from the stock’s previous close.

A number of other analysts have also issued reports on SBSW. Zacks Research lowered Sibanye Gold from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Wall Street Zen downgraded shares of Sibanye Gold from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sibanye Gold in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.93.

Sibanye Gold Trading Down 1.7%

Shares of NYSE:SBSW opened at $8.40 on Tuesday. The business has a fifty day simple moving average of $10.60 and a 200-day simple moving average of $13.36. Sibanye Gold has a 52 week low of $7.09 and a 52 week high of $21.29. The company has a quick ratio of 0.86, a current ratio of 1.78 and a debt-to-equity ratio of 0.73.

Insider Buying and Selling

In other news, Director Richard Peter Menell purchased 15,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average cost of $2.19 per share, for a total transaction of $32,850.00. Following the completion of the purchase, the director directly owned 25,125 shares of the company’s stock, valued at $55,023.75. The trade was a 148.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.05% of the stock is owned by corporate insiders.

Institutional Trading of Sibanye Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in Sibanye Gold by 113.9% during the first quarter. AQR Capital Management LLC now owns 39,909 shares of the company’s stock valued at $183,000 after buying an additional 21,248 shares in the last quarter. Millennium Management LLC increased its position in shares of Sibanye Gold by 363.7% in the first quarter. Millennium Management LLC now owns 3,171,659 shares of the company’s stock worth $14,526,000 after acquiring an additional 2,487,648 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Sibanye Gold by 196.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,576,255 shares of the company’s stock worth $16,379,000 after acquiring an additional 2,370,443 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Sibanye Gold in the 1st quarter valued at $55,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Sibanye Gold in the 2nd quarter valued at $186,000. Institutional investors and hedge funds own 34.93% of the company’s stock.

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.