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

Shares of Sibanye Stillwater Limited (NYSE:SBSW - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $4.48, but opened at $4.28. Sibanye Stillwater shares last traded at $4.34, with a volume of 1,830,387 shares changing hands.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upgraded shares of Sibanye Stillwater from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $4.70 to $5.30 in a research report on Tuesday, March 18th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $5.05.

Sibanye Stillwater Stock Down 1.4 %

The company has a market cap of $3.05 billion, a PE ratio of 8.29 and a beta of 1.59. The firm has a 50-day simple moving average of $3.75 and a two-hundred day simple moving average of $3.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.09 and a quick ratio of 1.04.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bridgewater Associates LP grew its holdings in shares of 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. HighTower Advisors LLC grew its stake in Sibanye Stillwater by 6.7% in the 3rd quarter. HighTower Advisors LLC now owns 48,632 shares of the company's stock worth $199,000 after acquiring an additional 3,045 shares during the period. Point72 Asset Management L.P. acquired a new position in Sibanye Stillwater in the 3rd quarter valued at $2,367,000. Two Sigma Advisers LP lifted its stake in shares of Sibanye Stillwater by 30.8% during the 3rd quarter. Two Sigma Advisers LP now owns 2,975,100 shares of the company's stock worth $12,228,000 after purchasing an additional 699,900 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of Sibanye Stillwater by 5.6% during the third quarter. XTX Topco Ltd now owns 101,656 shares of the company's stock worth $418,000 after purchasing an additional 5,428 shares during the last quarter. Institutional investors and hedge funds own 34.93% of the company's stock.

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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.