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

Sibanye Stillwater Limited (NYSE:SBSW)’s share price gapped down before the market opened on Friday . The stock had previously closed at $4.15, but opened at $3.72. Sibanye Stillwater shares last traded at $3.59, with a volume of 2,131,319 shares traded.

Analyst Ratings Changes

Separately, Royal Bank of Canada upgraded Sibanye Stillwater from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $4.70 to $5.30 in a report on Tuesday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.05.

Sibanye Stillwater Stock Down 17.2 %

The business’s 50 day moving average is $3.90 and its 200-day moving average is $4.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.09 and a quick ratio of 1.04. The company has a market cap of $2.43 billion, a PE ratio of 6.61 and a beta of 1.08.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Sibanye Stillwater during the fourth quarter worth about $25,000. Ameriprise Financial Inc. purchased a new position in Sibanye Stillwater during the 4th quarter worth approximately $35,000. Blankinship & Foster LLC acquired a new position in Sibanye Stillwater during the third quarter worth approximately $41,000. Peapack Gladstone Financial Corp purchased a new stake in Sibanye Stillwater in the fourth quarter valued at approximately $41,000. Finally, Rhumbline Advisers boosted its holdings in shares of Sibanye Stillwater by 32.3% in the fourth quarter. Rhumbline Advisers now owns 12,790 shares of the company’s stock valued at $42,000 after acquiring an additional 3,120 shares during the period. 34.93% of the stock is owned by hedge funds and other institutional investors.

About Sibanye Stillwater

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.