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

Sibanye Stillwater Limited (NYSE:SBSW - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $4.90, but opened at $4.71. Sibanye Stillwater shares last traded at $4.95, with a volume of 2,947,526 shares traded.

Wall Street Analyst Weigh In

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

Sibanye Stillwater Stock Performance

The firm's 50-day simple moving average is $3.99 and its two-hundred day simple moving average is $4.00. The company has a market cap of $3.55 billion, a PE ratio of 9.65 and a beta of 1.08. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71.

Hedge Funds Weigh In On Sibanye Stillwater

Several hedge funds have recently made changes to their positions in SBSW. Itau Unibanco Holding S.A. purchased a new stake in Sibanye Stillwater during the 4th quarter valued at about $25,000. Ameriprise Financial Inc. acquired a new stake in shares of Sibanye Stillwater during the fourth quarter worth about $35,000. Blankinship & Foster LLC acquired a new stake in shares of Sibanye Stillwater during the third quarter worth about $41,000. Peapack Gladstone Financial Corp purchased a new stake in Sibanye Stillwater in the fourth quarter valued at approximately $41,000. Finally, Rhumbline Advisers increased its holdings in Sibanye Stillwater by 32.3% in the 4th quarter. Rhumbline Advisers now owns 12,790 shares of the company's stock worth $42,000 after buying an additional 3,120 shares during the period. 34.93% of the stock is owned by institutional investors and hedge funds.

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.