Royal Bank of Canada Upgrades Sibanye Stillwater (NYSE:SBSW) to Outperform

Sibanye Stillwater (NYSE:SBSW) was upgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Tuesday, Marketbeat.com reports. The brokerage presently has a $5.30 price target on the stock, up from their prior price target of $4.70. Royal Bank of Canada’s target price would indicate a potential upside of 18.44% from the stock’s current price.

Sibanye Stillwater Stock Performance

Shares of NYSE SBSW opened at $4.48 on Tuesday. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 8.61 and a beta of 1.59. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71. Sibanye Stillwater has a 1-year low of $3.05 and a 1-year high of $5.93. The stock’s 50-day moving average is $3.72 and its 200 day moving average is $3.96.

Hedge Funds Weigh In On Sibanye Stillwater

A number of large investors have recently modified their holdings of the company. Lingotto Investment Management LLP raised its holdings 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 buying an additional 286,195 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Sibanye Stillwater by 28.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 6,541,857 shares of the company’s stock valued at $21,588,000 after buying an additional 1,439,882 shares in the last quarter. Invesco Ltd. increased its stake in Sibanye Stillwater by 0.6% in the 4th quarter. Invesco Ltd. now owns 4,582,354 shares of the company’s stock worth $15,122,000 after purchasing an additional 26,400 shares during the period. Two Sigma Advisers LP increased its stake in Sibanye Stillwater by 13.4% in the 4th quarter. Two Sigma Advisers LP now owns 3,375,200 shares of the company’s stock worth $11,138,000 after purchasing an additional 400,100 shares during the period. Finally, Bridgewater Associates LP increased its stake in 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 period. 34.93% of the stock is owned by hedge funds and other institutional investors.

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.