Sibanye Stillwater (NYSE:SBSW) Shares Gap Down - Here's What Happened

Sibanye Stillwater Limited (NYSE:SBSW - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $4.33, but opened at $4.04. Sibanye Stillwater shares last traded at $3.95, with a volume of 5,220,066 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on SBSW. BMO Capital Markets cut their target price on shares of Sibanye Stillwater from $5.00 to $4.50 and set a "market perform" rating on the stock in a research report on Friday, September 13th. JPMorgan Chase & Co. cut their target price on shares of Sibanye Stillwater from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, Sibanye Stillwater has a consensus rating of "Hold" and a consensus target price of $5.17.

Sibanye Stillwater Price Performance

The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71. The business's 50-day simple moving average is $4.13 and its two-hundred day simple moving average is $4.59.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lingotto Investment Management LLP boosted its stake in Sibanye Stillwater by 1.9% during the second quarter. Lingotto Investment Management LLP now owns 22,801,391 shares of the company's stock worth $99,186,000 after acquiring an additional 416,399 shares in the last quarter. Marshall Wace LLP lifted 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 in the last quarter. Millennium Management LLC lifted its stake in shares of Sibanye Stillwater by 65.1% in the second quarter. Millennium Management LLC now owns 1,335,331 shares of the company's stock valued at $5,809,000 after buying an additional 526,724 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Sibanye Stillwater by 8.7% in the second quarter. American Century Companies Inc. now owns 1,123,276 shares of the company's stock valued at $4,886,000 after buying an additional 90,063 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Sibanye Stillwater by 53.2% in the second quarter. Cubist Systematic Strategies LLC now owns 1,007,988 shares of the company's stock valued at $4,385,000 after buying an additional 349,835 shares in the last quarter. 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.