NEW YORK, December 29, 2025, 14:30 ET — Regular session.
Sibanye Stillwater Limited’s U.S.-listed ADRs fell 9.4% to $14.22 in afternoon trading on Monday, as a sharp pullback in precious metals knocked mining shares lower. The stock has traded between $14.06 and $15.24 so far, with about 7.2 million shares changing hands.
The move matters because bullion — precious metals such as gold — has been the market’s momentum trade into year-end, and miners have been priced for higher realized metal prices. Monday’s reversal shows how quickly that bet can unwind when traders lock in gains.
Sibanye is highly geared to platinum-group metals (PGMs) — a family of metals including platinum and palladium — as well as gold. When those prices swing, expectations for cash flow and debt reduction can shift in a day.
Spot gold, the price for immediate delivery, fell 4.2% to $4,340.52 an ounce by midday ET after hitting a record $4,549.71 on Friday, while platinum slid nearly 13% and palladium dropped 15%, Reuters reported. “All the metals moved up to recent and all-time highs. We are seeing profit-taking pullbacks off of those spectacularly high levels,” said David Meger, director of metals trading at High Ridge Futures; TD Securities strategist Daniel Ghali also cited holiday-thinned liquidity and a looming U.S. policy deadline tied to a critical-minerals probe as factors behind the recent surge and snapback. Reuters
The South African rand weakened about 0.3% to 16.7025 per dollar in early trade as investors took profits from the metals rally, Reuters reported, a move that can filter through to dollar-priced mining ADRs. TreasuryONE’s Wichard Cilliers said the broader outlook for gold and silver remained positive in a lower-rate environment despite the short-term pullback.
The selling was not limited to Sibanye. Harmony Gold was down about 8.6%, Gold Fields fell 7.1% and AngloGold Ashanti lost 7.6% in U.S. trading.
Sibanye Stillwater is a South Africa-based mining and metals processing group with gold and PGM operations in southern Africa and the U.S. The company has flagged Feb. 20, 2026 as the date for its H2 and full-year 2025 results announcement.
Investors will look for how management frames the latest metal-price volatility — and what it means for costs, capital spending and balance-sheet targets if prices stay choppy.
Near-term, traders will focus on whether gold, platinum and palladium can stabilize after Monday’s sharp drop. Markets are also watching for Fed meeting minutes and weekly jobless claims in a holiday-shortened week, with U.S. markets closed on Thursday for New Year’s Day.
For Sibanye, the metals tape may stay the main driver into year-end. A deeper retracement would pressure margin assumptions, while any rebound in platinum and palladium typically feeds quickly into the stock.
PGMs are used in catalytic converters that reduce vehicle exhaust emissions, tying demand to global auto production and emissions rules. Gold demand tends to rise when investors seek a store of value, but it can fall quickly when the market shifts back toward risk-taking.
