Sibanye Stillwater

SBSW · JOHANNESBURG

$9.21−$0.11 (−1.18%)TodayMarket closed · Oct 23, 7:58 PM ET

Prev close $9.32

SBSW analyst rating

BuyConsensus of 4 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy3
Hold1
Underperform0
Sell0

12-month price target · 10 analysts

Average $12.70 (+37.9% upside)

Low: $9.82
Now: $9.21
High: $19.13

Upgrades and downgrades

The latest rating actions, newest first

SBSW analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Sep 16, 2026	Maintains	Outperform	$16.50 → $15.00	40%
Citigroup	Aug 13, 2026	Initiates	Buy	$13.50	50%
BMO Capital	Jul 14, 2026	Maintains	Market Perform	$14.00 → $12.00	45%
RBC Capital	Jun 29, 2026	Maintains	Outperform	$17.00 → $16.50	40%
RBC Capital	Feb 19, 2026	Maintains	Outperform	$18.00 → $17.00	40%
BMO Capital	Feb 3, 2026	Maintains	Market Perform	$14.00 → $18.00	45%
HSBC	Jan 23, 2026	Upgrade	Hold → Buy	$13.30 → $24.80	33%

The case for and against

Updated Jul 31, 2025

Bull case

Sibanye Stillwater Ltd is positioned favorably with a diverse commodity basket that includes significant contributions from gold, platinum, and palladium, which are expected to see strong demand from both investment and central banks, potentially allowing the company to double its EBITDA levels by 2024. The company has strengthened its balance sheet amidst challenges such as elevated capital expenditures and a volatile PGM price environment, indicating improved financial resilience and the potential to attract investor interest. Furthermore, Sibanye is regarded as one of the most competitively valued South African PGM producers, benefiting from diversification into gold and green metals, which could enhance its long-term growth trajectory despite some existing legal and operational uncertainties.

Bear case

Sibanye Stillwater Ltd has demonstrated underperformance in the market, with its shares declining by -2% over the last three months, in contrast to the positive performances of PGM and gold peers, which saw increases of +7% and +19% respectively. Additionally, the company faces potential negative impacts from strikes at its PGM operations, which could further dampen market sentiment, alongside concerns over weakening commodity prices and a stronger rand that are likely to negatively affect earnings due to the company's high operational gearing. Forecasts for the FY24-26 average EBITDA for the South African PGM division have been revised downwards by -20%, primarily driven by lower production volumes and higher costs, exacerbating the challenges faced by the company in meeting prior expectations.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.