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

Sibanye Gold Limited (NYSE:SBSW) gapped up before the market opened on Friday. The stock had previously closed at $10.28, but opened at $10.58. Sibanye Gold shares last traded at $10.5050, with a volume of 1,962,876 shares changing hands.

Wall Street Analyst Weigh In

SBSW has been the subject of several research reports. Royal Bank Of Canada reduced their target price on Sibanye Gold from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, September 16th. BMO Capital Markets dropped their price target on Sibanye Gold from $14.00 to $12.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 14th. Wall Street Zen raised Sibanye Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 6th. Citigroup upgraded Sibanye Gold from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a report on Thursday, August 13th. Finally, Weiss Ratings raised Sibanye Gold from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.32.

Sibanye Gold Trading Up 3.1%

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.72 and a quick ratio of 1.37. The company’s 50-day moving average is $10.86 and its two-hundred day moving average is $11.20.

Sibanye Gold Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Friday, September 18th will be paid a $0.4985 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a dividend yield of 856.0%.

Insider Buying and Selling at Sibanye Gold

In related news, Director Richard Menell bought 15,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were bought at an average price of $2.19 per share, for a total transaction of $32,850.00. Following the completion of the acquisition, the director directly owned 25,125 shares of the company’s stock, valued at $55,023.75. This trade represents a 148.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sibanye Gold

Several institutional investors have recently bought and sold shares of the stock. AdvisorNet Financial Inc raised its position in Sibanye Gold by 1,462.5% in the 1st quarter. AdvisorNet Financial Inc now owns 2,000 shares of the company’s stock valued at $25,000 after buying an additional 1,872 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Sibanye Gold by 3,289.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,915 shares of the company’s stock valued at $70,000 after acquiring an additional 4,770 shares in the last quarter. Blue Trust Inc. boosted its holdings in Sibanye Gold by 127.4% during the 1st quarter. Blue Trust Inc. now owns 4,987 shares of the company’s stock worth $61,000 after acquiring an additional 2,794 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in Sibanye Gold during the 4th quarter worth $73,000. Finally, Stevens Capital Partners bought a new stake in shares of Sibanye Gold in the 1st quarter worth $124,000. Institutional investors own 34.93% of the company’s stock.

Sibanye Gold Company Profile

Sibanye-Stillwater, formerly known as Sibanye Gold, is a multinational mining and metals company headquartered in South Africa. The company was established in 2012 through the restructuring of Gold Fields’ South African assets and adopted the Sibanye-Stillwater name in 2016 as it expanded beyond gold mining.

The company produces gold, platinum-group metals (PGMs), and associated by-products. Its operations have included gold mines in South Africa; platinum, palladium, rhodium and other PGM assets in South Africa and the United States; and PGM recycling activities.