Sibanye Gold (NYSE:SBSW) Reaches New 12-Month High – Here’s What Happened

Sibanye Gold Limited (NYSE:SBSW)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $14.27 and last traded at $14.2950, with a volume of 988191 shares traded. The stock had previously closed at $13.91.

Analyst Ratings Changes

SBSW has been the subject of several analyst reports. BMO Capital Markets upped their target price on Sibanye Gold from $7.00 to $8.50 and gave the company a “market perform” rating in a report on Tuesday, September 2nd. Wall Street Zen lowered Sibanye Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 14th. Zacks Research raised shares of Sibanye Gold to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sibanye Gold in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.90.

Sibanye Gold Stock Performance

The company has a debt-to-equity ratio of 0.96, a current ratio of 2.89 and a quick ratio of 1.53. The stock’s 50-day simple moving average is $11.83 and its 200 day simple moving average is $9.71.

Hedge Funds Weigh In On Sibanye Gold

A number of hedge funds have recently made changes to their positions in the stock. MAI Capital Management raised its position in Sibanye Gold by 87.8% in the third quarter. MAI Capital Management now owns 2,500 shares of the company’s stock valued at $28,000 after purchasing an additional 1,169 shares during the period. Archer Investment Corp acquired a new stake in shares of Sibanye Gold in the third quarter valued at $34,000. PNC Financial Services Group Inc. raised its holdings in shares of Sibanye Gold by 116.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,298 shares of the company’s stock valued at $37,000 after buying an additional 1,777 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 buying an additional 1,000 shares during the period. Finally, State of Wyoming acquired a new position in Sibanye Gold during the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 34.93% of the company’s stock.

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.