Sibanye Stillwater (NYSE:SBSW) Stock Price Up 10.9% – Here’s Why

Sibanye Stillwater Limited (NYSE:SBSW) shares were up 10.9% on Friday . The stock traded as high as $4.28 and last traded at $4.32. Approximately 3,023,693 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 6,876,214 shares. The stock had previously closed at $3.89.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upgraded shares of Sibanye Stillwater from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $4.70 to $5.30 in a research report on Tuesday, March 18th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Sibanye Stillwater currently has a consensus rating of “Hold” and a consensus price target of $5.05.

Sibanye Stillwater Stock Up 12.0 %

The company has a market cap of $3.08 billion, a P/E ratio of 8.39 and a beta of 1.08. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $3.88 and a 200 day moving average price of $3.98.

Institutional Investors Weigh In On Sibanye Stillwater

Hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its position in shares of Sibanye Stillwater by 6.7% during the third quarter. HighTower Advisors LLC now owns 48,632 shares of the company’s stock worth $199,000 after purchasing an additional 3,045 shares in the last quarter. XTX Topco Ltd boosted its position in Sibanye Stillwater by 5.6% in the 3rd 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 during the last quarter. Barclays PLC acquired a new stake in shares of Sibanye Stillwater in the 3rd quarter valued at $329,000. Pine Valley Investments Ltd Liability Co raised its position in shares of Sibanye Stillwater by 83.4% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 27,136 shares of the company’s stock worth $112,000 after acquiring an additional 12,336 shares during the last quarter. Finally, Blankinship & Foster LLC acquired a new position in shares of Sibanye Stillwater during the third quarter valued at $41,000. 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.