Sibanye Gold (NYSE:SBSW) Reaches New 12-Month High – Here’s What Happened

Shares of Sibanye Gold Limited (NYSE:SBSW) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $17.05 and last traded at $16.9170, with a volume of 1459264 shares. The stock had previously closed at $15.65.

Analysts Set New Price Targets

SBSW has been the topic of several research analyst reports. 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. Weiss Ratings restated a “sell (d-)” rating on shares of Sibanye Gold in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Sibanye Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sibanye Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.90.

Sibanye Gold Stock Performance

The firm has a 50-day moving average price of $13.26 and a 200 day moving average price of $10.73. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.89 and a quick ratio of 1.53.

Institutional Investors Weigh In On Sibanye Gold

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings 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. Arrowstreet Capital Limited Partnership boosted its stake in Sibanye Gold by 1,136.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,495,525 shares of the company’s stock valued at $25,238,000 after buying an additional 3,212,833 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Sibanye Gold by 2,449.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,246,397 shares of the company’s stock worth $36,490,000 after acquiring an additional 3,119,075 shares in the last quarter. ABC Arbitrage SA increased its holdings in shares of Sibanye Gold by 260.1% during the third quarter. ABC Arbitrage SA now owns 4,032,812 shares of the company’s stock worth $45,329,000 after buying an additional 2,912,995 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Sibanye Gold by 363.7% during the 1st quarter. Millennium Management LLC now owns 3,171,659 shares of the company’s stock valued at $14,526,000 after acquiring an additional 2,487,648 shares in the last quarter. Institutional investors and hedge funds 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.