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

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBSW. Investec downgraded shares of Sibanye Stillwater from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. HSBC downgraded 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 note on Monday, November 4th. Finally, Hsbc Global Res downgraded shares of Sibanye Stillwater from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, Sibanye Stillwater presently has an average rating of “Hold” and a consensus target price of $4.98.

Sibanye Stillwater Price Performance

The business’s fifty day moving average is $3.81 and its 200-day moving average is $4.15. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.71.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in Sibanye Stillwater by 3,256.8% during the 2nd quarter. Marshall Wace LLP now owns 5,315,274 shares of the company’s stock worth $23,121,000 after purchasing an additional 5,156,931 shares during the last quarter. Bridgewater Associates LP raised its holdings in Sibanye Stillwater by 10.9% during 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. Two Sigma Advisers LP raised its holdings in Sibanye Stillwater by 30.8% during the 3rd quarter. Two Sigma Advisers LP now owns 2,975,100 shares of the company’s stock worth $12,228,000 after purchasing an additional 699,900 shares during the last quarter. Raymond James & Associates raised its holdings in 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 last quarter. Finally, Millennium Management LLC raised its holdings in Sibanye Stillwater by 65.1% during the 2nd quarter. Millennium Management LLC now owns 1,335,331 shares of the company’s stock worth $5,809,000 after purchasing an additional 526,724 shares during the last quarter. 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.