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

Sibanye Gold Limited (NYSE:SBSW) gapped down prior to trading on Wednesday . The stock had previously closed at $9.00, but opened at $8.45. Sibanye Gold shares last traded at $8.7180, with a volume of 1,203,746 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SBSW shares. Zacks Research lowered Sibanye Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings restated 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, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sibanye Gold presently has a consensus rating of “Hold” and an average target price of $19.93.

Sibanye Gold Stock Performance

The stock’s 50 day simple moving average is $11.57 and its two-hundred day simple moving average is $13.79. The company has a quick ratio of 0.86, a current ratio of 1.78 and a debt-to-equity ratio of 0.73.

Hedge Funds Weigh In On Sibanye Gold

A number of institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its holdings in Sibanye Gold by 21.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,903,127 shares of the company’s stock valued at $109,687,000 after buying an additional 1,587,183 shares in the last quarter. Condire Management LP raised its holdings in shares of Sibanye Gold by 5.6% during the 4th quarter. Condire Management LP now owns 5,244,469 shares of the company’s stock worth $74,734,000 after acquiring an additional 279,540 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in shares of Sibanye Gold during the 4th quarter worth $63,023,000. Goehring & Rozencwajg Associates LLC boosted its position in shares of Sibanye Gold by 20.6% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 4,270,069 shares of the company’s stock valued at $52,607,000 after acquiring an additional 730,389 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings 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 valued at $16,379,000 after purchasing an additional 2,370,443 shares during the period. Hedge funds and other institutional investors 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.