Sibanye Stillwater price target lowered to $4.50 from $5 at BMO Capital

BMO Capital lowered the firm’s price target on Sibanye Stillwater to $4.50 from $5 and keeps a Market Perform rating on the shares after its first-half results. While the company is pursuing options to improve its balance sheet flexibility and reduce costs, low metals prices continue to have a detrimental effect on margins, especially at the U.S. operations, where the company has announced another round of restructuring, the analyst tells investors in a research note. There is still execution and permitting risk with respect to its two lithium projects and very little visibility in terms of scope and pathway to sustained profitability for the rest of the battery metals portfolio, BMO added.