Sibanye Gold (NYSE:SBSW) Sets New 12-Month High After Analyst Upgrade

Shares of Sibanye Gold Limited (NYSE:SBSW) reached a new 52-week high on Saturday after HSBC upgraded the stock from a hold rating to a buy rating. HSBC now has a $24.80 price target on the stock. Sibanye Gold traded as high as $19.54 and last traded at $19.4560, with a volume of 12226523 shares. The stock had previously closed at $18.15.

A number of other analysts have also issued reports on the stock. Wall Street Zen raised shares of Sibanye Gold from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Zacks Research raised Sibanye Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sibanye Gold in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.87.

Institutional Trading of Sibanye Gold

A number of hedge funds have recently modified their holdings of SBSW. Lingotto Investment Management LLP lifted its holdings in shares of Sibanye Gold by 0.9% in the second quarter. Lingotto Investment Management LLP now owns 28,430,409 shares of the company’s stock valued at $205,268,000 after purchasing an additional 263,600 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Sibanye Gold by 32,992.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,405,288 shares of the company’s stock valued at $46,246,000 after acquiring an additional 6,385,932 shares in the last quarter. Marshall Wace LLP boosted its position in Sibanye Gold by 77.0% during the 2nd quarter. Marshall Wace LLP now owns 4,752,858 shares of the company’s stock worth $34,316,000 after acquiring an additional 2,068,178 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Sibanye Gold by 15.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,034,972 shares of the company’s stock worth $45,353,000 after acquiring an additional 539,447 shares during the last quarter. Finally, ABC Arbitrage SA grew its stake in shares of Sibanye Gold by 260.1% during the 3rd quarter. ABC Arbitrage SA now owns 4,032,812 shares of the company’s stock worth $45,329,000 after acquiring an additional 2,912,995 shares in the last quarter. 34.93% of the stock is currently owned by institutional investors and hedge funds.

Sibanye Gold Stock Performance

The business has a 50-day moving average of $14.31 and a 200-day moving average of $11.27. The company has a quick ratio of 1.53, a current ratio of 2.89 and a debt-to-equity ratio of 0.96.

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.