Sibanye Gold (NYSE:SBSW) Shares Gap Up – Here’s Why

Sibanye Gold Limited (NYSE:SBSW) shares gapped up before the market opened on Wednesday . The stock had previously closed at $11.72, but opened at $12.87. Sibanye Gold shares last traded at $13.2260, with a volume of 1,754,765 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wall Street Zen cut Sibanye Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sibanye Gold in a report on Tuesday, April 21st. HSBC raised Sibanye Gold from a “hold” rating to a “buy” rating and set a $24.80 price target for the company in a report on Friday, January 23rd. Zacks Research cut Sibanye Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, BMO Capital Markets upped their price target on Sibanye Gold from $14.00 to $18.00 and gave the company a “market perform” rating in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.93.

Sibanye Gold Stock Up 14.7%

The company has a quick ratio of 0.86, a current ratio of 1.78 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $13.26 and a 200 day simple moving average of $13.84.

Sibanye Gold Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, April 2nd. Stockholders of record on Friday, March 20th were paid a $0.2614 dividend. This represents a dividend yield of 292.0%. The ex-dividend date was Friday, March 20th.

Insider Activity at Sibanye Gold

In related news, Director Thabane Vincent Maphai acquired 12,000 shares of the stock in a transaction dated Monday, March 16th. The shares were bought at an average cost of $13.34 per share, for a total transaction of $160,080.00. Following the purchase, the director owned 140,178 shares in the company, valued at approximately $1,869,974.52. This trade represents a 9.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Peter Menell acquired 2,500 shares of the stock in a transaction dated Tuesday, March 24th. The stock was bought at an average price of $11.43 per share, for a total transaction of $28,575.00. Following the completion of the purchase, the director owned 2,500 shares in the company, valued at approximately $28,575. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Sibanye Gold

Several large investors have recently modified their holdings of SBSW. Price T Rowe Associates Inc. MD bought a new stake in shares of Sibanye Gold in the 4th quarter valued at approximately $63,023,000. Deutsche Bank AG bought a new stake in shares of Sibanye Gold in the 4th quarter valued at approximately $49,435,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Sibanye Gold by 81.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,315,944 shares of the company’s stock valued at $104,252,000 after purchasing an additional 3,280,972 shares during the period. ABC Arbitrage SA grew its stake in shares of Sibanye Gold by 260.1% in the 3rd quarter. ABC Arbitrage SA now owns 4,032,812 shares of the company’s stock valued at $45,329,000 after purchasing an additional 2,912,995 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Sibanye Gold by 363.7% in the 1st quarter. Millennium Management LLC now owns 3,171,659 shares of the company’s stock valued at $14,526,000 after purchasing an additional 2,487,648 shares during the period. 34.93% of the stock is currently owned by institutional investors.

Sibanye Gold Company Profile

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.