Short Interest in Sibanye Stillwater Limited (NYSE:SBSW) Decreases By 24.7%

Sibanye Stillwater Limited (NYSE:SBSW) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 12,320,000 shares, a drop of 24.7% from the October 31st total of 16,370,000 shares. Based on an average daily volume of 6,920,000 shares, the short-interest ratio is presently 1.8 days. Currently, 1.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SBSW shares. Hsbc Global Res lowered shares of Sibanye Stillwater from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Investec downgraded Sibanye Stillwater from a “buy” rating to a “hold” rating in a report on Friday, October 18th. HSBC downgraded Sibanye Stillwater from a “buy” rating to a “hold” rating and set a $4.40 target price on the stock. in a report on Monday, November 4th. Finally, BMO Capital Markets decreased their price target on Sibanye Stillwater from $5.00 to $4.50 and set a “market perform” rating for the company in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, Sibanye Stillwater has a consensus rating of “Hold” and an average price target of $4.98.

Sibanye Stillwater Price Performance

Shares of SBSW traded up $0.07 on Friday, reaching $4.09. 2,325,800 shares of the company’s stock traded hands, compared to its average volume of 5,547,351. The stock’s 50 day simple moving average is $4.39 and its two-hundred day simple moving average is $4.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 2.09. Sibanye Stillwater has a 52-week low of $3.08 and a 52-week high of $5.93.

Hedge Funds Weigh In On Sibanye Stillwater

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP raised its stake in shares of Sibanye Stillwater by 3,256.8% in the second quarter. Marshall Wace LLP now owns 5,315,274 shares of the company’s stock valued at $23,121,000 after buying an additional 5,156,931 shares during the period. Two Sigma Advisers LP raised its stake in Sibanye Stillwater by 30.8% in the 3rd quarter. Two Sigma Advisers LP now owns 2,975,100 shares of the company’s stock valued at $12,228,000 after acquiring an additional 699,900 shares during the period. Point72 Asset Management L.P. purchased a new stake in Sibanye Stillwater during the third quarter valued at about $2,367,000. Millennium Management LLC boosted its position in Sibanye Stillwater by 65.1% during the second quarter. Millennium Management LLC now owns 1,335,331 shares of the company’s stock worth $5,809,000 after purchasing an additional 526,724 shares during the period. Finally, Lingotto Investment Management LLP increased its stake in shares of Sibanye Stillwater by 1.9% in the second quarter. Lingotto Investment Management LLP now owns 22,801,391 shares of the company’s stock worth $99,186,000 after purchasing an additional 416,399 shares in the last quarter. 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.