Sibanye Stillwater (NYSE:SBSW) Shares Gap Up – Here’s What Happened

Shares of Sibanye Stillwater Limited (NYSE:SBSW) gapped up before the market opened on Tuesday . The stock had previously closed at $4.09, but opened at $4.30. Sibanye Stillwater shares last traded at $4.26, with a volume of 2,530,560 shares.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada upgraded Sibanye Stillwater from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $4.70 to $5.30 in a report on Tuesday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Sibanye Stillwater has a consensus rating of “Hold” and a consensus price target of $5.05.

Sibanye Stillwater Trading Up 3.6 %

The stock has a market cap of $3.17 billion, a PE ratio of 8.61 and a beta of 1.59. The business has a 50-day moving average of $3.72 and a 200 day moving average of $3.96. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 2.09.

Hedge Funds Weigh In On Sibanye Stillwater

Several institutional investors and hedge funds have recently modified their holdings of SBSW. Lingotto Investment Management LLP increased its stake in shares of Sibanye Stillwater by 1.0% during the 4th quarter. Lingotto Investment Management LLP now owns 27,798,014 shares of the company’s stock valued at $91,733,000 after acquiring an additional 286,195 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Sibanye Stillwater by 28.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 6,541,857 shares of the company’s stock worth $21,588,000 after buying an additional 1,439,882 shares in the last quarter. Invesco Ltd. grew its stake in Sibanye Stillwater by 0.6% during the 4th quarter. Invesco Ltd. now owns 4,582,354 shares of the company’s stock valued at $15,122,000 after purchasing an additional 26,400 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Sibanye Stillwater by 13.4% in the fourth quarter. Two Sigma Advisers LP now owns 3,375,200 shares of the company’s stock worth $11,138,000 after buying an additional 400,100 shares during the last quarter. Finally, Bridgewater Associates LP increased its position in shares of Sibanye Stillwater by 10.9% in the 3rd quarter. Bridgewater Associates LP now owns 3,276,654 shares of the company’s stock worth $13,467,000 after purchasing an additional 321,037 shares during the last quarter. Hedge funds and other institutional investors own 34.93% of the company’s stock.

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.