Zacks Investment Research upgraded shares of Sibanye Gold (NYSE:SBGL) from a sell rating to a hold rating in a research report report published on Friday morning.
According to Zacks, “Sibanye Gold Limited is a gold mining company. It operates two gold mines: the Kloof Driefontein Complex (KDC) and the Beatrix gold mines. Sibanye Gold Limited is based in Houghton, South Africa. “
Other equities analysts also recently issued reports about the company. Macquarie downgraded Sibanye Gold from a neutral rating to an underperform rating in a research note on Tuesday, August 28th. ValuEngine downgraded Sibanye Gold from a sell rating to a strong sell rating in a research note on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $2.75.
SBGL stock opened at $2.70 on Friday. The firm has a market capitalization of $628.25 million, a PE ratio of -67.50 and a beta of -0.26. Sibanye Gold has a 1 year low of $2.02 and a 1 year high of $5.66. The company has a current ratio of 1.85, a quick ratio of 1.30 and a debt-to-equity ratio of 1.11.
Several hedge funds have recently added to or reduced their stakes in SBGL. BlackRock Inc. boosted its stake in shares of Sibanye Gold by 7.9% in the 1st quarter. BlackRock Inc. now owns 3,340,849 shares of the basic materials company’s stock worth $13,330,000 after buying an additional 245,426 shares during the last quarter. Barclays PLC boosted its stake in shares of Sibanye Gold by 604.9% in the 1st quarter. Barclays PLC now owns 56,389 shares of the basic materials company’s stock worth $226,000 after buying an additional 48,389 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Sibanye Gold in the 1st quarter worth $2,384,000. CIBC World Markets Inc. purchased a new position in shares of Sibanye Gold in the 1st quarter worth $196,000. Finally, Bank of Montreal Can boosted its stake in shares of Sibanye Gold by 13.2% in the 2nd quarter. Bank of Montreal Can now owns 311,873 shares of the basic materials company’s stock worth $755,000 after buying an additional 36,380 shares during the last quarter. Hedge funds and other institutional investors own 57.06% of the company’s stock.
Sibanye Gold Company Profile
Sibanye Gold Limited operates as a precious metals mining company in South Africa, Zimbabwe, and the United States. The company operates through PGM; and Gold and Uranium divisions. It owns and operates gold, and platinum group metals (PGM), including platinum, palladium, and rhodium operations and projects, as well as produces by-products, such as iridium, ruthenium, nickel, copper, and chrome.
Further Reading: Understanding Price to Earnings Ratio (PE)
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