12 Best Nickel Stocks to Buy According to Hedge Funds

9. Sibanye Stillwater Limited (NYSE:SBSW)

Number of Hedge Fund Holders: 18

Market cap as of April 25: $3.29 billion

Sibanye Stillwater Limited (NYSE:SBSW) is a mining and metals processing company based in South Africa that has a wide range of projects, activities, and investments spread over five continents. The Group also has holdings in mine tailings retreatment activities and is one of the leading recyclers of PGM autocatalysts. The firm is a leading producer of gold and also produces palladium, rhodium, and platinum. It also manufactures and refines copper, cobalt, nickel, chromium, ruthenium, and iridium. PGMs, chrome, nickel, zinc, gold, and other metals are among its products, making it one of the Best Nickel Stocks.

Sibanye Stillwater Limited (NYSE:SBSW) is investing in new industries like lithium in addition to its core mining operations. The company is positioned to benefit from the rising demand for minerals used in the production of electric vehicles because it owns what is allegedly the largest lithium mine in Europe and runs a battery recycling facility. Byproducts of its mining operations, such as uranium and chromium, also bring in revenue for the business. The company recently joined a joint venture for the Beisa uranium project, which might yield significant benefits if uranium prices increase. Moreover, it has raised $500 million through a streaming agreement with Franco-Nevada to pre-sell gold and PGMs from its South African operations. The business also owns 50% of DRD Gold, which has a market valuation of about $1 billion.

The investment in battery materials and precious metals by Sibanye Stillwater Limited (NYSE:SBSW) coincides with long-term trends in traditional investment demand and a shift toward green energy. The company’s investments in battery metals should generate substantial returns as the EV industry expands. At the same time, amid a downturn in the economy, the firm’s well-established holdings in PGMs and gold provide exposure to metals with industrial uses and investment appeal.