Sibanye Stillwater (NYSE:SBSW) Shares Up 7.1% - Here's What Happened

Sibanye Stillwater Limited (NYSE:SBSW - Get Free Report) shares were up 7.1% during trading on Friday . The stock traded as high as $4.38 and last traded at $4.36. Approximately 3,340,964 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 5,945,848 shares. The stock had previously closed at $4.07.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SBSW shares. Investec lowered Sibanye Stillwater from a "buy" rating to a "hold" rating in a research report on Friday. BMO Capital Markets decreased their price target on shares of Sibanye Stillwater from $5.00 to $4.50 and set a "market perform" rating for the company in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sibanye Stillwater from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $5.17.

Sibanye Stillwater Price Performance

The firm's 50-day moving average price is $4.13 and its 200 day moving average price is $4.56. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71.

Institutional Investors Weigh In On Sibanye Stillwater

Several large investors have recently made changes to their positions in SBSW. Marshall Wace LLP increased its position in Sibanye Stillwater by 3,256.8% in the 2nd quarter. Marshall Wace LLP now owns 5,315,274 shares of the company's stock valued at $23,121,000 after acquiring an additional 5,156,931 shares during the period. Millennium Management LLC increased its holdings in shares of Sibanye Stillwater by 65.1% during the second quarter. Millennium Management LLC now owns 1,335,331 shares of the company's stock valued at $5,809,000 after purchasing an additional 526,724 shares during the period. Lingotto Investment Management LLP raised its stake in shares of Sibanye Stillwater by 1.9% during the second quarter. Lingotto Investment Management LLP now owns 22,801,391 shares of the company's stock valued at $99,186,000 after purchasing an additional 416,399 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Sibanye Stillwater by 53.2% in the second quarter. Cubist Systematic Strategies LLC now owns 1,007,988 shares of the company's stock worth $4,385,000 after purchasing an additional 349,835 shares during the period. Finally, Headlands Technologies LLC grew its position in Sibanye Stillwater by 685.5% in the 2nd quarter. Headlands Technologies LLC now owns 375,660 shares of the company's stock valued at $1,634,000 after buying an additional 327,837 shares in the last quarter. Institutional investors and hedge funds 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.