Lazard Asset Management LLC Invests $3.53 Million in Sibanye Gold Limited $SBSW

Lazard Asset Management LLC purchased a new stake in Sibanye Gold Limited (NYSE:SBSW) during the first quarter, HoldingsChannel reports. The institutional investor purchased 286,333 shares of the company’s stock, valued at approximately $3,528,000.

A number of other hedge funds also recently made changes to their positions in SBSW. AdvisorNet Financial Inc increased its position in Sibanye Gold by 1,462.5% during the 1st quarter. AdvisorNet Financial Inc now owns 2,000 shares of the company’s stock worth $25,000 after purchasing an additional 1,872 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Sibanye Gold in the 4th quarter valued at approximately $29,000. Blue Trust Inc. boosted its position in Sibanye Gold by 84.1% in the fourth quarter. Blue Trust Inc. now owns 2,193 shares of the company’s stock valued at $31,000 after buying an additional 1,002 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Sibanye Gold by 116.8% in the third quarter. PNC Financial Services Group Inc. now owns 3,298 shares of the company’s stock valued at $37,000 after buying an additional 1,777 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Sibanye Gold by 40.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,481 shares of the company’s stock worth $39,000 after buying an additional 1,000 shares during the last quarter. 34.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBSW. Wall Street Zen downgraded shares of Sibanye Gold from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Zacks Research downgraded Sibanye Gold from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Sibanye Gold in a research report on Friday, July 17th. Finally, BMO Capital Markets lowered their target price on Sibanye Gold from $14.00 to $12.00 and set a “market perform” rating for the company in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Sibanye Gold has a consensus rating of “Hold” and an average target price of $17.93.

Insider Transactions at Sibanye Gold

In other Sibanye Gold news, Director Richard Peter Menell purchased 15,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $2.19 per share, with a total value of $32,850.00. Following the completion of the purchase, the director owned 25,125 shares of the company’s stock, valued at approximately $55,023.75. The trade was a 148.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.05% of the company’s stock.

Sibanye Gold Stock Down 2.9%

NYSE:SBSW opened at $8.82 on Friday. Sibanye Gold Limited has a one year low of $7.09 and a one year high of $21.29. The company has a current ratio of 1.78, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. The firm’s 50 day simple moving average is $9.45 and its 200 day simple moving average is $12.73.

Sibanye Gold 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.