BlackRock Inc., the world’s largest asset manager, has seen the value of its stake in Sibanye-Stillwater drop $64 million just days after raising its holding above 5 percent.
The 5.001 percent stake, valued at nearly $660 million at last Thursday’s close, has since fallen by $64 million, underscoring how quickly market sentiment can shift amid volatility in precious-metals stocks and global economic uncertainty.
Market volatility hits BlackRock investment
Lastweek, BlackRock increased its stake by 1.71 percent, from 3.29 percent to above 5 percent, placing it among the top three institutional investors in Sibanye-Stillwater.
The Blackrock’s investment now dipped to R10.51 billion ($595.33 million), as a result of the 9.67 percent dip that eroded nearly $64 million away from its earlier total investment of R11.64 billion ($659.23 million).
Despite the brief paper loss, Sibanye-Stillwater, a leading producer of platinum, palladium and gold, has gained 21 percent in 2026, suggesting BlackRock’s increased exposure aligns with renewed institutional appetite for a market upswing.
Sibanye shares swing after disclosure
The 48-hour dip follows profit-taking and liquidity adjustments, showing how quickly market sentiment can shift even for major institutional investors.
The company joins South Africa’s Public Investment Corporation (PIC), which holds 20.42 percent, and the UK-based Lingotto Investment Management, controlled by the Agnelli dynasty, as leading shareholders.
The dip is not isolated. BlackRock has also expanded its positions in Northam Platinum (5.04 percent stake), AngloGold Ashanti (10.1 percent stake), and Harmony Gold, reflecting investor caution amid political and economic uncertainties, including US tariffs and geopolitical tensions.
Despite short-term fluctuations, Sibanye-Stillwater remains the 22nd most valuable stock on the Johannesburg Stock Exchange, with a market capitalization of R209 billion ($12.92 billion). However, institutional demand and safe-haven flows into precious metals are supporting long-term growth.
