Sibanye shares tumble 9% on downgrade by Morgan Stanley
Drop wipes R5.4bn off its market value after share price has been showing early signs of recovery
03 October 2023 - 20:37
Sibanye-Stillwater’s market valuation took a pounding on Tuesday as the share price slumped as much as 9.2% in its biggest one-day fall in five months after Morgan Stanley downgraded the already beaten-down stock, catching the market off guard.
The share price had been showing early signs of recovery after bottoming out at R25.87 nearly a month ago, though it is roughly half what it was in January when it was trading at R51.68. It reached a record high of R75 in March last year...
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