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.

While we acknowledge the risk and potential of SBSW as an investment, our conviction lies in the belief that some 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 and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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