Sibanye Gold (NYSE:SBSW) Issues Quarterly Earnings Results, Misses Estimates By $0.57 EPS

Sibanye Gold (NYSE:SBSW) released its quarterly earnings results on Tuesday. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.57), reports. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $5.22 billion.

Sibanye Gold Stock Down 2.3%

Shares of SBSW stock opened at $11.81 on Tuesday. Sibanye Gold has a 1-year low of $7.36 and a 1-year high of $21.29. The business has a 50-day moving average of $9.64 and a 200 day moving average of $11.72. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 1.78.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SBSW. Wall Street Zen raised Sibanye Gold from a “hold” rating to a “buy” rating in a report on Saturday. BMO Capital Markets reduced their price target on shares of Sibanye Gold from $14.00 to $12.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 14th. Citigroup raised shares of Sibanye Gold from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Sibanye Gold in a report on Friday, July 17th. Finally, Zacks Research cut shares of Sibanye Gold from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Sibanye Gold currently has a consensus rating of “Hold” and an average target price of $16.82.

Insider Buying and Selling

In related news, Director Richard Peter Menell purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of $2.19 per share, with a total value of $32,850.00. Following the purchase, the director directly owned 25,125 shares of the company’s stock, valued at approximately $55,023.75. This trade represents a 148.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.05% of the stock is owned by company insiders.

Institutional Trading of Sibanye Gold

A number of institutional investors have recently made changes to their positions in SBSW. PNC Financial Services Group Inc. grew its holdings in shares of Sibanye Gold by 116.8% in the third quarter. PNC Financial Services Group Inc. now owns 3,298 shares of the company’s stock worth $37,000 after purchasing an additional 1,777 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Sibanye Gold by 40.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,481 shares of the company’s stock valued at $39,000 after buying an additional 1,000 shares during the last quarter. GeoWealth Management LLC purchased a new stake in Sibanye Gold during the 3rd quarter valued at $43,000. US Bancorp DE boosted its position in Sibanye Gold by 2,664.2% during the 3rd quarter. US Bancorp DE now owns 4,091 shares of the company’s stock valued at $46,000 after buying an additional 3,943 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Sibanye Gold in the 1st quarter worth $55,000. Hedge funds and other institutional investors own 34.93% of the company’s stock.

Sibanye Gold Company Profile

Sibanye Gold (NYSE:SBSW) is a precious metals mining company headquartered in Johannesburg, South Africa. The company’s core operations focus on the extraction, processing and exploration of gold. Through its South African gold mining operations, Sibanye Gold produces doré bars, gold in concentrate and carbon-in-leach product, leveraging both underground and surface mining techniques. The company also generates by-products such as uranium, copper and nickel, reflecting its commitment to maximizing resource recovery.

In addition to its South African footprint, Sibanye Gold has expanded into the platinum?group metals (PGM) sector through its acquisition of Stillwater Mining Company in 2017.