Sibanye Gold Limited (SBGL) : Traders are bullish on Sibanye Gold Limited (SBGL) as it has outperformed the S&P 500 by a wide margin of 16.48% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.75%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.8% in the last 1 week, and is up 17.68% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 7.56% and the 50-Day Moving Average is 29.36%. Sibanye Gold Limited (NYSE:SBGL): stock turned positive on Friday. Though the stock opened at $20.39, the bulls momentum made the stock top out at $20.56 level for the day. The stock recorded a low of $20.01 and closed the trading day at $20.1, in the green by 0.45%. The total traded volume for the day was 1,288,736. The stock had closed at $20.01 in the previous days trading.
Institutional Investors own 34.53% of Sibanye Gold Limited shares. Also, Brokerage firm Macquarie upgrades its rating on Sibanye Gold Limited (NYSE:SBGL). The shares have been rated Neutral. Previously, the analysts had a Underperform rating on the shares. The rating by the firm was issued on July 5, 2016.
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 Companys 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.