HSBC Upgrades Sibanye Gold (NYSE:SBSW) to Buy

Sibanye Gold (NYSE:SBSW) was upgraded by stock analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm presently has a $24.80 price objective on the stock. HSBC’s price objective would indicate a potential upside of 27.47% from the company’s previous close.

A number of other research analysts also recently issued reports on SBSW. Wall Street Zen upgraded shares of Sibanye Gold from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Sibanye Gold in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Sibanye Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.87.

Sibanye Gold Trading Up 7.2%

SBSW stock opened at $19.46 on Friday. The business’s 50-day moving average is $14.31 and its two-hundred day moving average is $11.27. The company has a quick ratio of 1.53, a current ratio of 2.89 and a debt-to-equity ratio of 0.96. Sibanye Gold has a 1 year low of $3.05 and a 1 year high of $19.54.

Institutional Investors Weigh In On Sibanye Gold

Several hedge funds and other institutional investors have recently bought and sold shares of SBSW. AQR Capital Management LLC increased its position in Sibanye Gold by 113.9% in the 1st quarter. AQR Capital Management LLC now owns 39,909 shares of the company’s stock valued at $183,000 after acquiring an additional 21,248 shares during the period. Millennium Management LLC grew its stake in shares of Sibanye Gold by 363.7% in the 1st quarter. Millennium Management LLC now owns 3,171,659 shares of the company’s stock valued at $14,526,000 after purchasing an additional 2,487,648 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Sibanye Gold by 196.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,576,255 shares of the company’s stock valued at $16,379,000 after purchasing an additional 2,370,443 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Sibanye Gold in the first quarter valued at approximately $55,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Sibanye Gold during the second quarter worth approximately $919,000. 34.93% of the stock is currently owned by institutional investors and hedge funds.

About Sibanye Gold

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.