Sibanye Gold (NYSE:SBSW) Shares Gap Up – Time to Buy?

Shares of Sibanye Gold Limited (NYSE:SBSW) gapped up prior to trading on Wednesday . The stock had previously closed at $10.56, but opened at $11.28. Sibanye Gold shares last traded at $11.4390, with a volume of 946,619 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on SBSW shares. BMO Capital Markets decreased their target price on shares of Sibanye Gold from $14.00 to $12.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sibanye Gold in a report on Friday, July 17th. Zacks Research downgraded Sibanye Gold from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Wall Street Zen downgraded Sibanye Gold from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Citigroup raised Sibanye Gold from a “neutral” rating to a “buy” rating and set a $13.50 price objective on the stock in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.82.

Sibanye Gold Stock Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.78 and a quick ratio of 0.86. The business has a fifty day moving average of $9.23 and a 200 day moving average of $12.03.

Insider Buying and Selling at Sibanye Gold

In related news, Director Richard Peter Menell purchased 15,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average cost of $2.19 per share, for a total transaction of $32,850.00. Following the completion of the transaction, the director directly owned 25,125 shares in the company, valued at approximately $55,023.75. The trade was a 148.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sibanye Gold

Hedge funds have recently made changes to their positions in the stock. Moors & Cabot Inc. lifted its position in shares of Sibanye Gold by 4.8% during the 4th quarter. Moors & Cabot Inc. now owns 14,250 shares of the company’s stock valued at $203,000 after acquiring an additional 650 shares during the period. EverSource Wealth Advisors LLC increased its stake in Sibanye Gold by 6.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,591 shares of the company’s stock valued at $151,000 after purchasing an additional 656 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Sibanye Gold by 40.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,481 shares of the company’s stock valued at $39,000 after purchasing an additional 1,000 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Sibanye Gold by 7.4% during the third quarter. Ameriprise Financial Inc. now owns 17,096 shares of the company’s stock worth $192,000 after purchasing an additional 1,178 shares during the last quarter. Finally, Fermata Advisors LLC boosted its position in Sibanye Gold by 12.4% during the second quarter. Fermata Advisors LLC now owns 11,313 shares of the company’s stock worth $96,000 after purchasing an additional 1,250 shares in the last quarter. Hedge funds and other 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.