Sibanye Stillwater (NYSE:SBSW) Stock Price Up 5.4% - Here's What Happened

Sibanye Stillwater Limited (NYSE:SBSW - Get Free Report)'s share price was up 5.4% on Monday . The stock traded as high as $4.56 and last traded at $4.62. Approximately 2,284,008 shares changed hands during mid-day 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 raised Sibanye Stillwater from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $4.70 to $5.30 in a research report on Tuesday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.05.

Sibanye Stillwater Stock Down 17.2 %

The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 6.61 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. The firm's 50 day moving average is $3.90 and its two-hundred day moving average is $4.02.

Hedge Funds Weigh In On Sibanye Stillwater

Several institutional investors and hedge funds have recently modified their holdings of SBSW. HighTower Advisors LLC raised its holdings in Sibanye Stillwater by 6.7% in the 3rd quarter. HighTower Advisors LLC now owns 48,632 shares of the company's stock valued at $199,000 after acquiring an additional 3,045 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Sibanye Stillwater in the third quarter valued at $2,367,000. Two Sigma Advisers LP lifted its position in Sibanye Stillwater by 30.8% during the third quarter. Two Sigma Advisers LP now owns 2,975,100 shares of the company's stock worth $12,228,000 after buying an additional 699,900 shares during the period. XTX Topco Ltd boosted its stake in Sibanye Stillwater by 5.6% in the 3rd quarter. XTX Topco Ltd now owns 101,656 shares of the company's stock worth $418,000 after buying an additional 5,428 shares during the last quarter. Finally, O Brien Greene & Co. Inc purchased a new stake in Sibanye Stillwater in the 3rd quarter valued at about $189,000. Hedge funds and other institutional investors own 34.93% of the company's stock.

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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.