Sibanye Stillwater (NYSE:SBSW) Shares Down 6.5%

Shares of Sibanye Stillwater Limited (NYSE:SBSW) dropped 6.5% on Tuesday . The stock traded as low as $3.13 and last traded at $3.15. Approximately 6,557,832 shares changed hands during trading, an increase of 13% from the average daily volume of 5,812,979 shares. The stock had previously closed at $3.37.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price target on Sibanye Stillwater from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.67.

Sibanye Stillwater Stock Performance

The company has a current ratio of 1.70, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $4.25 and a 200 day moving average price of $4.60.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in shares of Sibanye Stillwater by 3,256.8% in the second 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. Lingotto Investment Management LLP boosted its stake in Sibanye Stillwater by 28.5% during the 4th quarter. Lingotto Investment Management LLP now owns 21,967,407 shares of the company’s stock worth $119,283,000 after purchasing an additional 4,865,997 shares during the period. Millennium Management LLC grew its position in Sibanye Stillwater by 65.1% during the 2nd quarter. Millennium Management LLC now owns 1,335,331 shares of the company’s stock worth $5,809,000 after purchasing an additional 526,724 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake 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 valued at $4,385,000 after purchasing an additional 349,835 shares during the period. Finally, Headlands Technologies LLC raised its holdings in shares of Sibanye Stillwater by 685.5% in the second 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 during the last quarter. Hedge funds and other institutional investors own 34.93% of the company’s stock.

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.