Sibanye Stillwater: Bet On Growing PGM Deficit (Rating Upgrade) [Seeking Alpha]
D/B/A Sibanye-Stillwater Limited ADS (SBSW)
Company Research
Source: Seeking Alpha
SBSW 2023 results are promising, considering the PGM bear market. The company took successful cost-cut measures, resulting in $375 million savings. SBSW maintains its balance sheet with ample liquidity and a prudent capital structure. The company holds $1,397 billion in cash and owes $1,363 in long-term debt. With higher gold and PGM production figures in FY24 and stronger spot prices, SBSW's profitability will recover. PGM miners are cheap, but SBSW is dirt cheap. I give SBSW a Buy rating. Note: I previously covered Sibanye Stillwater ( NYSE: SBSW ) in November 2023. I discussed PGM's declining supply and rising demand. SBSW is an excellent way to bet on that. I dissected company operations: platinum mining in South Africa, its US recycling business, and DRD Gold ownership. Despite the weak PGM market, SBSW keeps a strong balance sheet with ample liquidity. At that time, I concluded it was too early to buy; I gave SBSW a Hold rating. Over the past few months, I have dilige
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SBSW
News
- Institutions own 26% of DRDGOLD Limited (NYSE:DRD) shares but public companies control 50% of the company [Yahoo! Finance]Yahoo! Finance
- Sibanye Stillwater Stock (NYSE:SBSW): Two-Pronged Approach to Precious Metals [Yahoo! Finance]Yahoo! Finance
- Sibanye Stillwater: The Tide May Be Turning [Seeking Alpha]Seeking Alpha
- Impala Platinum: Excellent Business At An Attractive Price At The Right Time; Rating Upgrade [Seeking Alpha]Seeking Alpha
- Gold prices hit record highs on safe-haven demand [Reuters]Reuters
SBSW
Sec Filings
- 4/26/24 - Form 6-K
- 4/26/24 - Form 20-F
- 4/26/24 - Form 6-K
- SBSW's page on the SEC website