Sibanye Stillwater (NYSE:SBSW) Shares Up 5.4% – Here’s What Happened

Sibanye Stillwater Limited (NYSE:SBSW)’s stock price rose 5.4% during trading on Monday . The stock traded as high as $4.56 and last traded at $4.62. Approximately 2,284,008 shares were traded during trading, a decline of 65% from the average daily volume of 6,581,145 shares. The stock had previously closed at $4.38.

Analyst Upgrades and Downgrades

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

Sibanye Stillwater Price Performance

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 business’s 50-day moving average is $3.88 and its two-hundred day moving average is $4.01. The company has a market capitalization of $3.19 billion, a P/E ratio of 8.67 and a beta of 1.59.

Hedge Funds Weigh In On Sibanye Stillwater

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Goehring & Rozencwajg Associates LLC purchased a new stake in shares of Sibanye Stillwater during the fourth quarter valued at approximately $9,446,000. Raymond James Financial Inc. purchased a new stake in shares of Sibanye Stillwater during the 4th quarter valued at $5,814,000. D. E. Shaw & Co. Inc. raised its stake in shares of Sibanye Stillwater by 28.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 6,541,857 shares of the company’s stock worth $21,588,000 after purchasing an additional 1,439,882 shares during the period. Northern Trust Corp raised its stake in shares of 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 purchasing an additional 957,103 shares during the period. Finally, Trek Financial LLC purchased a new position in shares of Sibanye Stillwater in the 4th quarter worth about $2,803,000. Hedge funds and other institutional investors own 34.93% of the company’s stock.

Sibanye Stillwater Company Profile

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.