Why Sibanye Stillwater’s (SBSW) Shares Are Falling

We recently published a list of 10 Firms Buck Broader Market Optimism. In this article, we are going to take a look at where Sibanye Stillwater Limited (NYSE:SBSW) stands against other firms buck broader market optimism.

Wall Street’s main indices finished in the green territory on Friday amid a series of catalysts buoying investor appetite.

The Dow Jones Industrial Average rose by 0.80 percent, while the S&P 500 and Nasdaq Composite rallied by 1.26 percent and 1.77 percent, respectively.

Despite the wider optimistic sentiment, 10 companies managed to post declines. Here is why:

To come up with Friday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Is Sibanye Stillwater (SBSW) Among the Firms Buck Broader Market Optimism?

A mining truck loaded with precious metals in an open pit mine.

Sibanye Stillwater Limited (NYSE:SBSW)

Sibanye Stillwater Limited (NYSE:SBSW), a mining and metals processing company, saw its share prices decline by 2.88 percent or 0.10 points to end at $3.37 apiece as investor sentiment was dampened by news of job cuts.

Late last year, the company announced that it was retrenching 700 employees at its Montana mining as part of a restructuring, due in part to a dive in palladium prices and the loss of over $350 million in Montana in 2023. The recent job cut followed the first 100 layoffs in November.

The company is the largest employer in Stillwater County, employing people from across south-central and southeastern Montana. The recent layoff led to the introduction of a bill seeking to ban the import of Russian palladium.

Overall, SBSW ranks 10th on our list of firms buck broader market optimism. While we acknowledge the potential of SBSW as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SBSW but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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