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

Sibanye Stillwater Limited (NYSE:SBSW)’s share price gapped up before the market opened on Monday . The stock had previously closed at $3.89, but opened at $4.15. Sibanye Stillwater shares last traded at $4.22, with a volume of 1,598,285 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SBSW shares. Hsbc Global Res downgraded shares of Sibanye Stillwater from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. HSBC downgraded shares of Sibanye Stillwater from a “buy” rating to a “hold” rating and set a $4.40 target price for the company. in a research note on Monday, November 4th. BMO Capital Markets cut their price target on Sibanye Stillwater from $5.00 to $4.50 and set a “market perform” rating on the stock in a research note on Friday, September 13th. Finally, Investec downgraded 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.98.

Sibanye Stillwater Price Performance

The firm’s 50 day simple moving average is $4.36 and its 200-day simple moving average is $4.37. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.71.

Institutional Investors Weigh In On Sibanye Stillwater

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBSW. Marshall Wace LLP increased its holdings in shares of Sibanye Stillwater by 3,256.8% in the 2nd quarter. Marshall Wace LLP now owns 5,315,274 shares of the company’s stock valued at $23,121,000 after acquiring an additional 5,156,931 shares during the period. Two Sigma Advisers LP grew its position in 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 purchasing an additional 699,900 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Sibanye Stillwater in the third quarter valued at $2,367,000. Millennium Management LLC raised its holdings in shares of Sibanye Stillwater by 65.1% in the second quarter. Millennium Management LLC now owns 1,335,331 shares of the company’s stock valued at $5,809,000 after buying an additional 526,724 shares during the last quarter. Finally, Lingotto Investment Management LLP boosted its stake in shares of Sibanye Stillwater by 1.9% during the second quarter. Lingotto Investment Management LLP now owns 22,801,391 shares of the company’s stock worth $99,186,000 after buying an additional 416,399 shares during the period. Hedge funds and other institutional investors own 34.93% of the company’s stock.

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.