Sibanye Gold (NYSE:SBSW) Shares Down 10.1% – What’s Next?

Sibanye Gold Limited (NYSE:SBSW)’s stock price dropped 10.1% during mid-day trading on Thursday . The stock traded as low as $10.81 and last traded at $11.2330. Approximately 5,415,052 shares were traded during trading, a decline of 30% from the average daily volume of 7,766,896 shares. The stock had previously closed at $12.49.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Sibanye Gold from $14.00 to $18.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada cut their target price on shares of Sibanye Gold from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Wall Street Zen downgraded shares of Sibanye Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Zacks Research upgraded shares of Sibanye Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Finally, HSBC raised shares of Sibanye Gold from a “hold” rating to a “buy” rating and set a $24.80 price objective for the company in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sibanye Gold currently has a consensus rating of “Moderate Buy” and an average price target of $19.93.

Sibanye Gold Stock Down 3.3%

The company has a 50 day moving average of $16.21 and a 200 day moving average of $13.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.78 and a quick ratio of 0.86.

Sibanye Gold Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 20th will be issued a $0.2614 dividend. The ex-dividend date is Friday, March 20th. This represents a yield of 292.0%.

Insider Activity at Sibanye Gold

In related news, Director Thabane Vincent Maphai acquired 12,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was bought at an average price of $13.34 per share, with a total value of $160,080.00. Following the purchase, the director directly owned 140,178 shares in the company, valued at $1,869,974.52. The trade was a 9.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sibanye Gold

Hedge funds have recently modified their holdings of the stock. Foster Group Inc. purchased a new stake in shares of Sibanye Gold during the 3rd quarter worth about $1,424,000. Arrowstreet Capital Limited Partnership raised its holdings 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 during the period. JPMorgan Chase & Co. raised its holdings in Sibanye Gold by 32,992.0% in the second quarter. JPMorgan Chase & Co. now owns 6,405,288 shares of the company’s stock valued at $46,246,000 after buying an additional 6,385,932 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Sibanye Gold by 3,802.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 254,633 shares of the company’s stock valued at $2,862,000 after buying an additional 248,108 shares in the last quarter. Finally, Hohimer Wealth Management LLC acquired a new position in Sibanye Gold during the third quarter valued at approximately $3,151,000. 34.93% of the stock is owned by institutional investors and hedge funds.

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.