Sibanye Stillwater Shares Soar 13.25% in Five Days, Reach 2023 High

Sibanye Stillwater (SBSW) shares rose 0.71% today, marking the fifth consecutive day of gains, with a 13.25% increase over the past five days. The share price reached its highest level since May 2023, with an intraday gain of 3.10%.

The strategy of buying SBSW shares after they reach a recent high and selling them one week later resulted in a -17.52% return, significantly underperforming the benchmark, which had a return of -100.00%. Despite this, the strategy achieved an excess return of 82.48% and a CAGR of -7.40%, indicating some resilience but with considerable volatility and drawdowns.

Sibanye Stillwater's recent share surge can be attributed to the Waterpan eviction drama, which has sparked significant market interest. This event has led to a 3.87% increase in the company's stock price, reflecting a positive market reaction to the developments surrounding the eviction.

In addition to the recent surge, Sibanye Stillwater has also seen a 1.69% rise, reaching a new 52-week closing high. This indicates increased investor interest and positive momentum in the stock, further contributing to the overall upward trend in the company's share price.