JPMorgan analyst Allan Cooke double upgraded Sibanye Gold (SBGL) to Overweight from Underweight saying the company has reversed the declining production trend and reduced overhead and operating costs. Cooke calls Sibanye and AngloGold (AU) his gold stock picks in a low dollar gold price environment. The analyst has a price target of $8.98 for shares of Sibanye. The stock closed Friday up 33c to $5.85. Cooke coupled the upgrade with downgrades of Gold Fields (GFI), Harmony Gold (HMY), DRDGOLD (DRD) and Randgold Resources (GOLD). He sees a see low-$1,000/oz gold price over the next 12 months.