Sibanye Stillwater (NYSE:SBSW) Shares Down 3.1% – Here’s What Happened

Sibanye Stillwater Limited (NYSE:SBSW) was down 3.1% during mid-day trading on Tuesday . The stock traded as low as $3.40 and last traded at $3.46. Approximately 1,825,802 shares changed hands during trading, a decline of 70% from the average daily volume of 6,030,062 shares. The stock had previously closed at $3.57.

Analyst Ratings Changes

SBSW has been the subject of several research reports. Hsbc Global Res lowered shares of Sibanye Stillwater from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Investec cut shares of Sibanye Stillwater from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. BMO Capital Markets decreased their price target on Sibanye Stillwater from $5.00 to $4.50 and set a “market perform” rating for the company in a research note on Friday, September 13th. Finally, HSBC downgraded Sibanye Stillwater from a “buy” rating to a “hold” rating and set a $4.40 price objective for the company. in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.98.

Sibanye Stillwater Stock Down 1.1 %

The business has a 50 day simple moving average of $4.26 and a 200 day simple moving average of $4.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.09 and a quick ratio of 1.04. The stock has a market cap of $2.50 billion, a PE ratio of 5.69 and a beta of 1.55.

Hedge Funds Weigh In On Sibanye Stillwater

A number of hedge funds have recently added to or reduced their stakes in SBSW. Blankinship & Foster LLC bought a new stake in Sibanye Stillwater in the third quarter worth approximately $41,000. Pine Valley Investments Ltd Liability Co boosted its holdings in Sibanye Stillwater by 83.4% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 27,136 shares of the company’s stock worth $112,000 after purchasing an additional 12,336 shares in the last quarter. Barclays PLC acquired a new position in Sibanye Stillwater during the third quarter worth $329,000. O Brien Greene & Co. Inc acquired a new position in Sibanye Stillwater during the third quarter worth $189,000. Finally, XTX Topco Ltd raised its holdings in Sibanye Stillwater by 5.6% during the third quarter. XTX Topco Ltd now owns 101,656 shares of the company’s stock valued at $418,000 after buying an additional 5,428 shares in the last quarter. Institutional investors and hedge funds 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.