Sibanye Stillwater (SBSW) Rides on Gold Rush, Bullish Rating; Hits Fresh High

We recently published 10 Power Stocks Crushing Wall Street — 7 at All-Time Highs. Sibanye Stillwater Ltd. (NYSE:SBSW) is one of the best performers on Tuesday.

Sibanye Stillwater extended its winning streak to a second day on Tuesday, jumping 9.38 percent to close at $8.28 apiece as investors took path from an investment firm’s higher price target for its stock.

In its market note, BMO Capital raised its price target for Sibanye Stillwater Ltd. (NYSE:SBSW) to $8.5 from $7 previously.

Additionally, Sibanye Stillwater Ltd. (NYSE:SBSW) rallied alongside its mining counterparts after gold prices soared to a new all-time high amid a widely expected rate cut that could bolster buying of precious metals.

In the first six months of the year, Sibanye Stillwater Ltd. (NYSE:SBSW) said its headline earnings expanded by 1,846 percent to $292 million from only $15 million in the same period last year.

It also narrowed its net loss by 43 percent to $211 million from $372 million year-on-year.

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Disclosure: None. This article is originally published at Insider Monkey.