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

Sibanye Stillwater Limited (NYSE:SBSW)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $4.48, but opened at $4.79. Sibanye Stillwater shares last traded at $4.91, with a volume of 4,913,219 shares changing hands.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upgraded Sibanye Stillwater from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $4.70 to $5.30 in a research report on Tuesday, March 18th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Sibanye Stillwater currently has a consensus rating of “Hold” and an average price target of $5.05.

Sibanye Stillwater Price Performance

The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.71. The company’s fifty day moving average price is $3.95 and its two-hundred day moving average price is $4.00. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 9.59 and a beta of 1.08.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. bought a new position in shares of Sibanye Stillwater in the fourth quarter valued at $25,000. Ameriprise Financial Inc. bought a new position in Sibanye Stillwater during the fourth quarter worth about $35,000. Blankinship & Foster LLC bought a new stake in Sibanye Stillwater in the third quarter valued at approximately $41,000. Peapack Gladstone Financial Corp acquired a new stake in shares of Sibanye Stillwater in the fourth quarter valued at approximately $41,000. Finally, Rhumbline Advisers boosted its stake in shares of Sibanye Stillwater by 32.3% during the 4th quarter. Rhumbline Advisers now owns 12,790 shares of the company’s stock worth $42,000 after acquiring an additional 3,120 shares during the period. 34.93% of the stock is currently owned by institutional investors.

Sibanye Stillwater Company Profile

Sibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia. The company produces gold; platinum group metals (PGMs), including palladium, platinum, rhodium, iridium, and ruthenium; chrome; nickel; and silver, cobalt, and copper.