Why This Gold Miner Rocketed 17% Higher in October

Why This Gold Miner Rocketed 17% Higher in October

The shares of Sibanye-Stillwater (NYSE: SBGL) rose a dramatic 17% last month, with the shares heading higher throughout October. That an interesting trend given that the prices of gold and platinum were both pretty volatile during the month, with each metal spiking in the middle of October and then retreating. Barrick Gold, as a reference point, ended the month down 10%.   

There's been a lot going on at Sibanye-Stillwater this year, including Sibanye completing its merger with Stillwater in May. And not all of the news has been good, including a large rights issue that didn't sit well with investors early in the year. In fact, 2017 has been filled with volatile ups and downs for the stock. But there was some good news at the start of October that helped to drive the shares notably higher.   

Image source: Getty Images.

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Source: Fool.com