Sibanye Stillwater (NYSE:SBSW) Shares Gap Up – Here’s What Happened

Shares of Sibanye Stillwater Limited (NYSE:SBSW) gapped up before the market opened on Thursday . The stock had previously closed at $3.30, but opened at $3.41. Sibanye Stillwater shares last traded at $3.42, with a volume of 1,165,047 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBSW. BMO Capital Markets reduced their target price on Sibanye Stillwater from $5.00 to $4.50 and set a “market perform” rating for the company in a report on Friday, September 13th. HSBC cut Sibanye Stillwater from a “buy” rating to a “hold” rating and set a $4.40 price target for the company. in a research note on Monday, November 4th. Hsbc Global Res cut shares of Sibanye Stillwater from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Investec downgraded shares of Sibanye Stillwater from a “buy” rating to a “hold” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, Sibanye Stillwater has a consensus rating of “Hold” and an average price target of $4.98.

Sibanye Stillwater Stock Up 5.5 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 2.09. The company has a market capitalization of $2.46 billion, a PE ratio of 5.61 and a beta of 1.55. The firm’s 50-day simple moving average is $4.15 and its 200 day simple moving average is $4.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP boosted its stake in shares of Sibanye Stillwater by 1.9% during the 2nd quarter. Lingotto Investment Management LLP now owns 22,801,391 shares of the company’s stock worth $99,186,000 after acquiring an additional 416,399 shares in the last quarter. Marshall Wace LLP grew its holdings in Sibanye Stillwater by 3,256.8% in the second quarter. Marshall Wace LLP now owns 5,315,274 shares of the company’s stock valued at $23,121,000 after purchasing an additional 5,156,931 shares during the last quarter. Bridgewater Associates LP increased its position in shares of Sibanye Stillwater by 10.9% in the third quarter. Bridgewater Associates LP now owns 3,276,654 shares of the company’s stock valued at $13,467,000 after buying an additional 321,037 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Sibanye Stillwater by 30.8% during the 3rd quarter. Two Sigma Advisers LP now owns 2,975,100 shares of the company’s stock worth $12,228,000 after buying an additional 699,900 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of Sibanye Stillwater by 8.5% in the 3rd quarter. Raymond James & Associates now owns 1,676,719 shares of the company’s stock worth $6,891,000 after buying an additional 131,990 shares in the last quarter. 34.93% of the stock is currently owned by institutional investors and hedge funds.

Sibanye Stillwater Company Profile

Sibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia. The company produces gold; platinum group metals (PGMs), including palladium, platinum, rhodium, iridium, and ruthenium; chrome; nickel; and silver, cobalt, and copper.