Sibanye-Stillwater Shares Surge on Forecast of Over 200% Earnings Growth
Sibanye-Stillwater, a leading miner, saw its shares rise by 1.6% to $12.46 on Friday as it projected a significant rebound in first-half earnings.
The uptick is attributed to higher gold and platinum-group-metal prices, rather than an increase in production. The company forecasts headline earnings per share between 571 and 631 South African cents, up from 190 cents for the prior year.
Adjusted EBITDA for the South African PGM segment surged roughly 300%, driven by a 67% increase in basket prices. Despite lower production, adjusted EBITDA from South African gold operations increased approximately 85% due to stronger gold prices.
The company's recycling business also delivered a boost, with recycled and sold precious metal ounces surging 142% to 2.79 million.