Sibanye Stillwater expects half-year loss as PGM prices slump

seekingalpha09-04

Sibanye Stillwater (NYSE:SBSW) -7.4% in Tuesday's trading after saying it expects to report a half-year loss, as sliding palladium prices led to a 7.5B South African rand (~$420M) writedown on its U.S...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2464338391?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1216108863/image_1216108863.jpg","is_english":true,"pubTime":"2024-09-04 00:42","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2464338391","market":"us","top_or_hot":-1,"title":"Sibanye Stillwater expects half-year loss as PGM prices slump","media":"seekingalpha","content":"<div>\n<p>Sibanye Stillwater (NYSE:SBSW) -7.4% in Tuesday's trading after saying it expects to report a half-year loss, as sliding palladium prices led to a 7.5B South African rand (~$420M) writedown on its U.S...</p>\n\n<a href=\"https://seekingalpha.com/news/4146310-sibanye-stillwater-expects-half-year-loss-as-pgm-prices-slump\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sibanye Stillwater expects half-year loss as PGM prices slump</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSibanye Stillwater expects half-year loss as PGM prices slump\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-04 00:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4146310-sibanye-stillwater-expects-half-year-loss-as-pgm-prices-slump><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sibanye Stillwater (NYSE:SBSW) -7.4% in Tuesday's trading after saying it expects to report a half-year loss, as sliding palladium prices led to a 7.5B South African rand (~$420M) writedown on its U.S...</p>\n\n<a href=\"https://seekingalpha.com/news/4146310-sibanye-stillwater-expects-half-year-loss-as-pgm-prices-slump\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PGM","symbol_name":"铂金ETN-iPath","start_time":0,"source_url":"https://seekingalpha.com/news/4146310-sibanye-stillwater-expects-half-year-loss-as-pgm-prices-slump","article_id":"2464338391","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1216108863/image_1216108863.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2464338391","pubTimestamp":1725381751,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Sibanye Stillwater (NYSE:SBSW) -7.4% in Tuesday's trading after saying it expects to report a half-year loss, as sliding palladium prices led to a 7.5B South African rand (~$420M) writedown on its U.S","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PGM":"铂金ETN-iPath","SBSW":"Sibanye Gold Limited","BK4188":"贵重金属与矿石"},"translate_title":"由于铂族金属价格暴跌，Sibanye Stillwater预计将出现半年亏损","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PGM":1,"SBSW":1},"content_text":"Sibanye Stillwater (NYSE:SBSW) -7.4% in Tuesday's trading after saying it expects to report a half-year loss, as sliding palladium prices led to a 7.5B South African rand (~$420M) writedown on its U.S. assets. Sibanye (SBSW) said it expects to swing to a loss of 2.508-2.772 rand/share (~a loss of $0.13-$0.15/share) for the six months to June 30 after posting a profit of 2.62 rand/share for the year-earlier period. The miner also said it expects to report headline earnings, which exclude the impairment, of 4.6-5.0 rand/share (~$0.002-$0.003), for the six months, compared with 208 rand/share (~$0.11) for the half-year ended June 30. H1 results were affected by lower revenue on the back of a decline in prices for platinum group metals, lower production and higher costs for the South African gold operations, and lower production from the South African PGM operations. Sibanye (SBSW) pointed to a 30% decline in the average dollar price for its U.S. metal and a 28% drop in the rand basket price for its southern African PGMs, during the half-year. The revenue impact was partly offset by an 18% Y/Y increase in the average rand gold price, but the company's gold production likely fell by more than 20% after it closed an old shaft and seismic activity limited its access to high-grade material. Sibanye's (SBSW) two U.S. PGM operations are located in Montana, extracting and processing PGM ore from the J-M Reef, the highest grade PGM deposit in the world and the only known significant source of PGMs in the U.S. More on Sibanye Stillwater  Sibanye Stillwater: Refinancing Likely Strengthens Deep Value Argument Sibanye Stillwater: Recovery Hope Dies Last Sibanye Stillwater: Time To Test The Waters","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2464338391"}