BMO Capital Markets Forecasts Strong Price Appreciation for Sibanye Gold (NYSE:SBSW) Stock

Sibanye Gold (NYSE:SBSW) had its price target boosted by equities researchers at BMO Capital Markets from $14.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 4.40% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Zacks Research upgraded Sibanye Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Wall Street Zen raised shares of Sibanye Gold from a “buy” rating to a “strong-buy” rating in a report on Monday, December 22nd. Hsbc Global Res upgraded shares of Sibanye Gold to a “strong-buy” rating in a research report on Friday, January 23rd. 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 report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sibanye Gold in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.03.

Sibanye Gold Trading Up 2.2%

NYSE:SBSW traded up $0.37 during mid-day trading on Tuesday, reaching $17.24. The stock had a trading volume of 5,230,308 shares, compared to its average volume of 8,991,364. The company has a quick ratio of 1.53, a current ratio of 2.89 and a debt-to-equity ratio of 0.96. Sibanye Gold has a 1-year low of $3.05 and a 1-year high of $21.29. The stock’s 50 day simple moving average is $15.24 and its two-hundred day simple moving average is $11.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of 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 purchasing an additional 6,385,932 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Sibanye Gold by 1,136.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,495,525 shares of the company’s stock worth $25,238,000 after buying an additional 3,212,833 shares during the period. Assenagon Asset Management S.A. grew its holdings in Sibanye Gold by 2,449.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,246,397 shares of the company’s stock worth $36,490,000 after buying an additional 3,119,075 shares in the last quarter. ABC Arbitrage SA raised its stake in Sibanye Gold by 260.1% during the 3rd quarter. ABC Arbitrage SA now owns 4,032,812 shares of the company’s stock valued at $45,329,000 after acquiring an additional 2,912,995 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Sibanye Gold by 363.7% during the 1st quarter. Millennium Management LLC now owns 3,171,659 shares of the company’s stock worth $14,526,000 after acquiring an additional 2,487,648 shares during the period. 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.