Sibanye Stillwater (NYSE:SBSW) Shares Down 7.3% – Here’s What Happened

Shares of Sibanye Stillwater Limited (NYSE:SBSW) were down 7.3% on Thursday . The company traded as low as $3.44 and last traded at $3.36. Approximately 3,341,101 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 4,938,896 shares. The stock had previously closed at $3.62.

Analyst Ratings Changes

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

Sibanye Stillwater Trading Down 6.2 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 2.09. The business’s 50 day simple moving average is $3.86 and its 200 day simple moving average is $4.16.

Institutional Trading of Sibanye Stillwater

Several institutional investors have recently made changes to their positions in the company. Lingotto Investment Management LLP increased its stake in Sibanye Stillwater by 1.9% during the second quarter. Lingotto Investment Management LLP now owns 22,801,391 shares of the company’s stock worth $99,186,000 after acquiring an additional 416,399 shares during the last quarter. Marshall Wace LLP lifted its position in 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 buying an additional 5,156,931 shares during the last quarter. Bridgewater Associates LP increased its position in shares of Sibanye Stillwater by 10.9% during the third quarter. Bridgewater Associates LP now owns 3,276,654 shares of the company’s stock valued at $13,467,000 after acquiring an additional 321,037 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Sibanye Stillwater by 30.8% in the 3rd quarter. Two Sigma Advisers LP now owns 2,975,100 shares of the company’s stock valued at $12,228,000 after acquiring an additional 699,900 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Sibanye Stillwater by 8.5% during the 3rd quarter. Raymond James & Associates now owns 1,676,719 shares of the company’s stock worth $6,891,000 after purchasing an additional 131,990 shares during the period. 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.