Sibanye Stillwater (ADR)
Mines and processes precious metals while expanding recycling and battery-metals operations.
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Profile
Mines gold and platinum-group metals in South Africa and the United States, with additional recycling, lithium, nickel-processing and zinc-tailings activities. Revenue and operating performance depend on commodity prices, safe mine execution, labor continuity, recycling feed availability and project ramp-ups.
Operates South African gold and platinum-group-metals mines, Montana PGM mines and autocatalyst recycling, and a broader recycling portfolio. Lithium development in Finland, French nickel processing, Australian zinc-tailings retreatment and copper interests extend the asset base beyond precious metals.
Combines primary mining with secondary-resource recovery and recycling across South Africa, the United States, Europe and Australia. Acquisition-led expansion created mine-to-refinery PGM capability and a technically diverse portfolio; the current strategy emphasizes simplification, operating performance, organic growth and disciplined capital allocation.
Execution depends on commodity prices, deep-level mine safety, labor continuity and social-license obligations in South Africa. U.S. mining regulation, recycling feed availability and working-capital needs, completion and ramp-up of the Keliber lithium project, and managing a geographically heterogeneous asset base also shape operations.
Company facts
Key statistics
Year to date −16.3% · Average volume (30d) 5.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | Citigroup | Initiate | Buy | |||
| Jul 14, 2026 | BMO Capital | Reiterate | Market Perform | $18 | $12 | |
| Jun 29, 2026 | RBC Capital | Reiterate | Outperform | $12 | $16.50 | |
| Feb 3, 2026 | BMO Capital | Reiterate | Market Perform | $8.50 | $18 | |
| Jan 23, 2026 | HSBC | Upgrade | Hold | Buy | $24.80 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Feb 20, 2026Q4 FY25 | $0.55 | −$0.14 | −125.4% | $3.87B | $4.67B | +20.6% | +1.44% |
| Aug 28, 2025Q2 FY25 | $0.13 | −$0.29 | −320.8% | $3.05B | $3.10B | +1.7% | +4.13% |
| Feb 21, 2025Q4 FY24 | −$0.01 | $0.00 | +137.4% | $2.73B | $2.99B | +9.8% | +1.71% |
| Sep 12, 2024Q2 FY24 | −$0.11 | −$0.15 | −32.0% | $2.54B | $3.04B | +19.8% | +7.51% |
Financial highlights
| 12 quarters | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.74B | $3.28B | $3.41B | $3.52B | $3.39B | $4.41B | |
| Gross profit | $966.3M | −$106.0M | $441.6M | $530.9M | $1.02B | $1.13B | |
| Operating income | $540.3M | −$114.9M | $431.6M | $523.2M | $981.5M | $851.5M | |
| Net income | $458.9M | −$2.79B | −$461.9M | $10.8M | −$222.0M | −$93.1M | |
| Diluted EPS | $0.65 | −$3.95 | −$0.65 | $0.01 | −$0.31 | −$0.13 | |
| Gross margin | 25.8% | -3.2% | 12.9% | 15.1% | 30.1% | 25.5% | |
| Operating margin | 14.4% | -3.5% | 12.6% | 14.9% | 29.0% | 19.3% |
Revenue by product · FY25
Revenue by geography · FY25
Balance sheet, Dec 31, 2025Cash & short-term investments $1.06B · Total debt $2.71B · Total assets $9.25B · Shareholders' equity $2.44B
Dividends
Last raised to $0.3109 from $0.1112 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Mar 20, 2026 | Mar 20 | Apr 2 | $0.3109 | raised from $0.1112 |
| Sep 21, 2023 | Sep 22 | Oct 6 | $0.1112 | cut from $0.2675 |
| Mar 23, 2023 | Mar 24 | Apr 6 | $0.2675 | cut from $0.3246 |
| Sep 15, 2022 | Sep 16 | Sep 29 | $0.3246 | cut from $0.4936 split-adjusted |
| Mar 24, 2022 | Mar 25 | Apr 7 | $0.407 | cut from $0.8075 split-adjusted |
| Sep 16, 2021 | Sep 17 | Sep 30 | $0.63 |
Ownership
Shares outstanding 707.64M · Float —
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Giovanni Agnelli B.V. | 150.69M | 5.32% | 13G | May 15, 2026 |
| BlackRock, Inc. | 142.69M | 5.00% | 13G | Jul 30, 2026 |
| Exor Capital LLP | 19.08M | 2.70% | 13F | Jul 29, 2026 |
| Two Sigma Investments, LP | 7.27M | 1.03% | 13F | Aug 14, 2026 |
| Arrowstreet Capital, Limited Partnership | 6.07M | 0.86% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 30, 2026 | Richard Peter Menell | director | +15,000 | $2.19 |
| Jun 26, 2026 | Charl Keyter | director, officer: Chief Financial Officer | +200,000 | $2.24 |
| Mar 31, 2026 | Themba George Nkosi | officer: Chief People & Culture Officer | +11,865 | $2.91 |
| Mar 30, 2026 | Charles Edward Carter | officer: Chief Regional Officer: Amer. | +10,000 | $11.40 |
| Mar 24, 2026 | Richard Peter Menell | director | +2,500 | $11.43 |
Peers
- Harmony Gold Mining Company (ADR)
Closest South African rival in underground gold and tailings retreatment
- Gold Fields (ADR)
Global gold rival with direct overlap at South Deep in South Africa
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sibanye Stillwater (ADR) | $12.06 | −0.33% | $8.56B | — | — | 1.1 | +55.9% |
| Harmony Gold Mining Company (ADR) | $20.20 | −0.02% | $12.64B | 7.0 | — | 1.9 | +75.9% |
| Gold Fields (ADR) | $45.80 | −0.29% | $41.14B | 9.1 | — | 3.7 | +70.3% |
| Median | 8.0 | — | 2.8 | +73.1% |