Sibanye Stillwater (NYSE:SBSW) Shares Gap Down – Here’s What Happened

Sibanye Stillwater Limited (NYSE:SBSW)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.90, but opened at $4.71. Sibanye Stillwater shares last traded at $4.95, with a volume of 2,947,526 shares.

Wall Street Analysts Forecast Growth

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

Sibanye Stillwater Stock Up 1.7 %

The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 9.59 and a beta of 1.08. 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 business’s 50-day moving average is $3.97 and its two-hundred day moving average is $4.00.

Institutional Investors Weigh In On Sibanye Stillwater

Several hedge funds and other institutional investors have recently made changes to their positions in SBSW. Itau Unibanco Holding S.A. purchased a new stake in Sibanye Stillwater in the 4th quarter valued at $25,000. Ameriprise Financial Inc. acquired a new stake in Sibanye Stillwater during the fourth quarter worth about $35,000. Blankinship & Foster LLC purchased a new position in Sibanye Stillwater during the third quarter worth about $41,000. Peapack Gladstone Financial Corp acquired a new position in Sibanye Stillwater in the 4th quarter valued at about $41,000. Finally, Rhumbline Advisers grew its stake in shares of Sibanye Stillwater by 32.3% in the 4th quarter. Rhumbline Advisers now owns 12,790 shares of the company’s stock valued at $42,000 after buying an additional 3,120 shares during the period. Institutional investors and hedge funds own 34.93% of the company’s stock.

About Sibanye Stillwater

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.