BMO Capital analyst Raj Ray maintained a Hold rating on Sibanye Stillwater yesterday and set a price target of $18.00.
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Raj Ray has given his Hold rating due to a combination of factors that balance improving fundamentals with lingering risks. He views Sibanye-Stillwater’s international strategy as better defined and more disciplined, with enhanced confidence in Keliber’s technical execution and a higher-quality recycling business that should be more resilient across cycles, while the U.S. PGM segment appears set up for a gradual cyclical recovery after its reset.
At the same time, he sees value being unlocked only slowly, as Keliber and other international assets bring near-term cash drag and earnings dilution before contributing meaningfully, and U.S. PGM growth still carries execution risk and elevated capital spending. With commodity price improvements supporting a return to profitability, especially in South African PGMs, but the overall financial upside expected to materialize over a longer horizon, he maintains a Market Perform stance and leaves his price target unchanged at $18 per ADR, supporting a Hold recommendation.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SBSW in relation to earlier this year.