Sibanye Gold (NYSE:SBSW) Stock Price Down 5.5% – Here’s What Happened

Shares of Sibanye Gold Limited (NYSE:SBSW) were down 5.5% on Friday . The stock traded as low as $12.78 and last traded at $12.88. Approximately 1,675,308 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 7,681,244 shares. The stock had previously closed at $13.63.

Analyst Upgrades and Downgrades

SBSW has been the subject of several analyst reports. Zacks Research upgraded Sibanye Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Wall Street Zen cut Sibanye Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. BMO Capital Markets increased their price objective on Sibanye Gold from $14.00 to $18.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada cut their price objective on Sibanye Gold from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sibanye Gold in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.93.

Sibanye Gold Stock Down 7.9%

The stock has a fifty day moving average of $16.53 and a two-hundred day moving average of $13.17. The company has a current ratio of 1.78, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73.

Sibanye Gold Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 20th will be issued a dividend of $0.2614 per share. This represents a dividend yield of 164.0%. The ex-dividend date is Friday, March 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. MAI Capital Management increased its position in Sibanye Gold by 87.8% in the 3rd quarter. MAI Capital Management now owns 2,500 shares of the company’s stock valued at $28,000 after acquiring an additional 1,169 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Sibanye Gold during the fourth quarter worth approximately $29,000. Blue Trust Inc. lifted its position in shares of Sibanye Gold by 84.1% during the fourth quarter. Blue Trust Inc. now owns 2,193 shares of the company’s stock worth $31,000 after purchasing an additional 1,002 shares in the last quarter. Archer Investment Corp bought a new stake in shares of Sibanye Gold during the third quarter valued at approximately $34,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Sibanye Gold by 116.8% during the third quarter. PNC Financial Services Group Inc. now owns 3,298 shares of the company’s stock valued at $37,000 after purchasing an additional 1,777 shares during the last quarter. 34.93% of the stock is owned by institutional investors.

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.