Macquarie Upgrades Sibanye Gold Ltd (ADR) to Neutral

Brokerage firm Macquarie Upgrades its rating on Sibanye Gold Ltd (ADR)(NYSE:SBGL). The shares have been rated Neutral. Previously, the analysts had a Underperform rating on the shares. The rating by Macquarie was issued on Jul 5, 2016.

Sibanye Gold Ltd (ADR) (SBGL) made into the market gainers list on Fridays trading session with the shares advancing 5.14% or 0.77 points. Due to strong positive momentum, the stock ended at $15.74, which is also near the day’s high of $15.84. The stock began the session at $15.29 and the volume stood at 30,04,516 shares. The 52-week high of the shares is $16.63 and the 52 week low is $4.07. The company has a current market capitalization of $3,605 M and it has 22,90,35,140 shares in outstanding.

Sibanye Gold Limited (Sibanye) is a producer of gold in South Africa. 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 (Beatrix) in the southern Free State province. In addition to its mining activities the Group owns and manages extraction and processing facilities at the operations where the gold-bearing ore is treated and processed before it is refined. The Company’s three segments include Beatrix Driefontein and Kloof. The Group has a number of organic projects including the West Rand Tailings Retreatment Project (WRTRP) on the Far West Rand and the Burnstone project on the South Rand of Gauteng province and the Beisa North Beisa South Bloemhoek De Bron-Merriespruit Hakkies and Robijn projects in the Free State.

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