Investors Buy Large Volume of Put Options on Sibanye Gold (SBGL)
Sibanye Gold Ltd (NYSE:SBGL) was the target of some unusual options trading on Friday. Stock investors purchased 6,022 put options on the stock. This represents an increase of 575% compared to the typical volume of 892 put options.
Sibanye Gold (NYSE:SBGL) opened at 5.83 on Wednesday. The firm has a market cap of $1.35 billion, a P/E ratio of 4.83 and a beta of -0.04. Sibanye Gold has a 52-week low of $5.27 and a 52-week high of $20.97. The firm’s 50-day moving average price is $8.50 and its 200-day moving average price is $8.41.
Separately, Zacks Investment Research upgraded Sibanye Gold from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, February 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $10.00.
A number of large investors have recently modified their holdings of SBGL. Comerica Bank boosted its stake in shares of Sibanye Gold by 14.0% in the fourth quarter. Comerica Bank now owns 13,069 shares of the basic materials company’s stock worth $105,000 after buying an additional 1,603 shares during the period. Keybank National Association OH purchased a new stake in shares of Sibanye Gold during the first quarter worth approximately $112,000. World Asset Management Inc boosted its stake in shares of Sibanye Gold by 0.8% in the first quarter. World Asset Management Inc now owns 14,292 shares of the basic materials company’s stock worth $126,000 after buying an additional 109 shares during the period. ING Groep NV purchased a new stake in shares of Sibanye Gold during the first quarter worth approximately $150,000. Finally, FNY Partners Fund LP purchased a new stake in shares of Sibanye Gold during the first quarter worth approximately $158,000. Institutional investors and hedge funds own 15.16% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece of content was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/05/24/investors-buy-large-volume-of-put-options-on-sibanye-gold-sbgl.html.
About Sibanye Gold
Sibanye Gold Limited (Sibanye) is a South Africa-based mining company. The Company owns and operates gold and uranium operations, and projects throughout the Witwatersrand Basin. Its segments include Driefontein, Kloof, Beatrix, Cooke and Corporate. The Company owns and operates four underground and surface gold operations: the Cooke, Driefontein and Kloof operations in the West Witwatersrand region, and the Beatrix operation in the southern Free State province.
Receive News & Ratings for Sibanye Gold Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sibanye Gold Ltd and related companies with MarketBeat.com's FREE daily email newsletter.