Added to YB: 2025-07-30
Pitch date: 2025-07-28
SBSW [bullish]
Sibanye Stillwater Limited
+42.35%
current return
Author Info
Aurelion Research is a research analyst with a passion for markets, specializing in high‑conviction ideas across shipping, offshore drilling, and thematic equity research. Sign up for the newsletter.
Company Info
Sibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia.
Market Cap
ZAR 136.4B
Pitch Price
ZAR 41.20
Price Target
15.00 (-74%)
Dividend
N/A
EV/EBITDA
9.32
P/E
-38.25
EV/Sales
1.45
Sector
Metals and Mining
Category
value
Is Sibanye-Stillwater Still Cheap?
SBSW: Undervalued PGM miner at 5.7x EV/EBITDA vs peers at 6-8x. Base case: +40% to $13. SA mines hitting cost targets, US ops near breakeven with tax credits. Pt/Au ratio at historic low (0.3-0.5x vs normal 0.8-1.0x). PGM supply tight, FCF inflection post-2025 as capex rolls off. Risks: SA power, US costs, PGM prices.
Read full article (7 min)