Sibanye Gold (NYSE:SBSW) Shares Down 3.7% – Here’s What Happened

Sibanye Gold Limited (NYSE:SBSW) traded down 3.7% on Monday . The company traded as low as $11.36 and last traded at $11.2230. Approximately 676,007 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 5,993,516 shares. The stock had previously closed at $11.66.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SBSW. Wall Street Zen upgraded Sibanye Gold from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 6th. BMO Capital Markets dropped their target price on Sibanye Gold from $14.00 to $12.00 and set a “market perform” rating for the company in a research report on Tuesday, July 14th. Zacks Research upgraded shares of Sibanye Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sibanye Gold in a research note on Friday, July 17th. Finally, Citigroup upgraded shares of Sibanye Gold from a “neutral” rating to a “buy” rating and set a $13.50 price objective for the company in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.32.

Sibanye Gold Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.37 and a current ratio of 2.72. The stock has a 50-day moving average price of $10.67 and a 200 day moving average price of $11.30.

Sibanye Gold Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, October 6th. Investors of record on Friday, September 18th will be paid a $0.4985 dividend. The ex-dividend date is Friday, September 18th. This represents a yield of 856.0%.

Insider Buying and Selling

In other news, Director Richard Menell acquired 15,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $2.19 per share, with a total value of $32,850.00. Following the transaction, the director owned 25,125 shares in the company, valued at approximately $55,023.75. This trade represents a 148.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sibanye Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goehring & Rozencwajg Associates LLC raised its holdings 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 purchasing an additional 730,389 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Sibanye Gold by 67.9% in the second quarter. Engineers Gate Manager LP now owns 518,732 shares of the company’s stock valued at $4,404,000 after acquiring an additional 209,804 shares during the period. Assenagon Asset Management S.A. purchased a new position in Sibanye Gold during the 2nd quarter worth $9,126,000. BlueCrest Capital Management Ltd purchased a new position in Sibanye Gold during the 2nd quarter worth $6,479,000. Finally, MAC Alpha Capital Management LP increased its stake in Sibanye Gold by 81.4% in the second quarter. MAC Alpha Capital Management LP now owns 1,588,307 shares of the company’s stock valued at $13,486,000 after purchasing an additional 712,537 shares during the period. 34.93% of the stock is owned by institutional investors and hedge funds.

About Sibanye Gold

Sibanye-Stillwater, formerly known as Sibanye Gold, is a multinational mining and metals company headquartered in South Africa. The company was established in 2012 through the restructuring of Gold Fields’ South African assets and adopted the Sibanye-Stillwater name in 2016 as it expanded beyond gold mining.

The company produces gold, platinum-group metals (PGMs), and associated by-products. Its operations have included gold mines in South Africa; platinum, palladium, rhodium and other PGM assets in South Africa and the United States; and PGM recycling activities.