Sibanye Stillwater (NYSE:SBSW) Shares Gap Up – Here’s Why

Sibanye Stillwater Limited (NYSE:SBSW)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.09, but opened at $4.30. Sibanye Stillwater shares last traded at $4.26, with a volume of 2,530,560 shares traded.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised shares of Sibanye Stillwater from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $4.70 to $5.30 in a research report on Tuesday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.05.

Sibanye Stillwater Trading Up 3.6 %

The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.71. The company has a market cap of $3.17 billion, a PE ratio of 8.61 and a beta of 1.59. The business has a 50-day simple moving average of $3.72 and a 200-day simple moving average of $3.96.

Hedge Funds Weigh In On Sibanye Stillwater

Institutional investors have recently bought and sold shares of the company. Goehring & Rozencwajg Associates LLC purchased a new stake in shares of Sibanye Stillwater during the fourth quarter worth approximately $9,446,000. Raymond James Financial Inc. acquired a new position in shares of Sibanye Stillwater in the 4th quarter valued at $5,814,000. D. E. Shaw & Co. Inc. raised its holdings in shares of Sibanye Stillwater by 28.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 6,541,857 shares of the company’s stock valued at $21,588,000 after buying an additional 1,439,882 shares during the last quarter. Northern Trust Corp lifted its position in Sibanye Stillwater by 1,673.5% during the 4th quarter. Northern Trust Corp now owns 1,014,294 shares of the company’s stock worth $3,347,000 after acquiring an additional 957,103 shares during the period. Finally, Trek Financial LLC purchased a new position in Sibanye Stillwater in the 4th quarter valued at $2,803,000. 34.93% of the stock is 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.