Sibanye Stillwater (NYSE:SBSW) Stock Price Down 7.6% – Here’s What Happened

Sibanye Stillwater Limited (NYSE:SBSW) dropped 7.6% during trading on Monday . The company traded as low as $4.24 and last traded at $4.25. Approximately 2,676,968 shares changed hands during trading, a decline of 56% from the average daily volume of 6,118,286 shares. The stock had previously closed at $4.60.

Analysts Set New Price Targets

SBSW has been the topic of a number of research reports. Hsbc Global Res cut Sibanye Stillwater from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. BMO Capital Markets lowered their price target 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. Investec lowered shares of Sibanye Stillwater from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, HSBC cut shares of Sibanye Stillwater from a “buy” rating to a “hold” rating and set a $4.40 target price on the stock. in a report on Monday, November 4th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.98.

Sibanye Stillwater Stock Performance

The company’s 50 day simple moving average is $4.29 and its 200-day simple moving average is $4.51. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.71.

Hedge Funds Weigh In On Sibanye Stillwater

A number of institutional investors have recently added to or reduced their stakes in the business. Anthracite Investment Company Inc. lifted its holdings in shares of Sibanye Stillwater by 114.3% during the 3rd quarter. Anthracite Investment Company Inc. now owns 678,228 shares of the company’s stock worth $2,788,000 after acquiring an additional 361,685 shares during the last quarter. BCGM Wealth Management LLC raised its holdings in shares of Sibanye Stillwater by 60.3% during the 3rd quarter. BCGM Wealth Management LLC now owns 620,252 shares of the company’s stock valued at $2,549,000 after buying an additional 233,217 shares in the last quarter. Sigma Planning Corp lifted its position in Sibanye Stillwater by 10.8% in the 3rd quarter. Sigma Planning Corp now owns 93,516 shares of the company’s stock worth $384,000 after buying an additional 9,100 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Sibanye Stillwater by 40.7% in the third quarter. Creative Financial Designs Inc. ADV now owns 7,600 shares of the company’s stock worth $31,000 after buying an additional 2,200 shares in the last quarter. Finally, Petra Financial Advisors Inc. bought a new position in Sibanye Stillwater during the third quarter valued at approximately $137,000. 34.93% of the stock is currently owned by institutional investors.

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.