Sibanye Stillwater (NYSE:SBSW) Shares Down 7.3% – Here’s Why

Sibanye Stillwater Limited (NYSE:SBSW) was down 7.3% during mid-day trading on Thursday . The stock traded as low as $3.44 and last traded at $3.36. Approximately 3,341,101 shares traded hands during trading, a decline of 32% from the average daily volume of 4,938,896 shares. The stock had previously closed at $3.62.

Analyst Ratings Changes

Several analysts have issued reports on SBSW shares. Investec lowered shares of Sibanye Stillwater from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Hsbc Global Res lowered shares of Sibanye Stillwater from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, HSBC lowered shares of Sibanye Stillwater from a “buy” rating to a “hold” rating and set a $4.40 price objective on the stock. in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, Sibanye Stillwater presently has an average rating of “Hold” and an average price target of $4.98.

Sibanye Stillwater Stock Performance

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’s 50 day moving average is $3.81 and its 200 day moving average is $4.15.

Hedge Funds Weigh In On Sibanye Stillwater

Several institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP grew its stake in Sibanye Stillwater by 3,256.8% during the second quarter. Marshall Wace LLP now owns 5,315,274 shares of the company’s stock worth $23,121,000 after buying an additional 5,156,931 shares in the last quarter. Bridgewater Associates LP grew its stake in Sibanye Stillwater by 10.9% during the third quarter. Bridgewater Associates LP now owns 3,276,654 shares of the company’s stock worth $13,467,000 after buying an additional 321,037 shares in the last quarter. Two Sigma Advisers LP grew its stake in Sibanye Stillwater by 30.8% during the third quarter. Two Sigma Advisers LP now owns 2,975,100 shares of the company’s stock worth $12,228,000 after buying an additional 699,900 shares in the last quarter. Raymond James & Associates grew its stake in Sibanye Stillwater by 8.5% during the third quarter. Raymond James & Associates now owns 1,676,719 shares of the company’s stock worth $6,891,000 after buying an additional 131,990 shares in the last quarter. Finally, Millennium Management LLC grew its stake 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 buying an additional 526,724 shares in the last quarter. 34.93% of the stock is currently owned by institutional investors and hedge funds.

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.