Sibanye Gold (NYSE:SBSW) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Sibanye Gold (NYSE:SBSW) from a buy rating to a strong-buy rating in a report issued on Sunday morning,Wall Street Zen reports.

Several other research firms have also issued reports on SBSW. Weiss Ratings reissued a “sell (d-)” rating on shares of Sibanye Gold in a report on Friday, July 17th. Zacks Research downgraded shares of Sibanye Gold from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Citigroup upgraded shares of Sibanye Gold from a “neutral” rating to a “buy” rating and set a $13.50 price target for the company in a research report on Thursday, August 13th. Finally, BMO Capital Markets reduced their price objective on shares of Sibanye Gold from $14.00 to $12.00 and set a “market perform” rating for the company in a research note on Tuesday, July 14th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.82.

Sibanye Gold Trading Up 0.2%

NYSE SBSW opened at $12.81 on Friday. Sibanye Gold has a 52 week low of $7.87 and a 52 week high of $21.29. The company has a quick ratio of 1.37, a current ratio of 2.72 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average price is $9.93 and its 200-day moving average price is $11.59.

Sibanye Gold Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Friday, September 18th will be paid a $0.4985 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a dividend yield of 795.0%.

Insider Buying and Selling at Sibanye Gold

In other Sibanye Gold news, Director Richard Menell bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $2.19 per share, for a total transaction of $32,850.00. Following the completion of the transaction, the director owned 25,125 shares of the company’s stock, valued at $55,023.75. This trade represents a 148.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sibanye Gold

Institutional investors have recently added to or reduced their stakes in the stock. Goehring & Rozencwajg Associates LLC increased its stake in Sibanye Gold by 20.6% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 4,270,069 shares of the company’s stock worth $52,607,000 after acquiring an additional 730,389 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Sibanye Gold during the second quarter valued at approximately $9,126,000. Sei Investments Co. lifted its stake in shares of Sibanye Gold by 67.5% in the 1st quarter. Sei Investments Co. now owns 868,470 shares of the company’s stock valued at $10,700,000 after purchasing an additional 350,122 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Sibanye Gold in the 1st quarter valued at approximately $3,528,000. Finally, Erste Asset Management GmbH purchased a new position in shares of Sibanye Gold in the 4th quarter worth approximately $1,414,000. 34.93% of the stock is owned by hedge funds and other 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.