By Adam Whittaker
Sibanye Stillwater shares rose after earnings soared on higher-precious metal prices and an improved operational performance.
In early trade, Johannesburg-listed shares traded up 5% at 4,625 South African rand and have tripled in value in the year to date.
The South African miner reported third-quarter earnings before interest, taxes, depreciation and amortization that nearly tripled on year to $560 million.
The group said the results reflected an improved operational performance following a restructuring in 2023 and 2024, combined with higher gold and platinum group metal prices.
Gold prices have jumped this year as investors seek refuge in the safe-haven asset due to mounting economic uncertainty and concerns over the independence of the U.S. Federal Reserve. PGM prices have also rallied on increased investment demand and restocking, with the market fundamentals looking positive over the longer term, Sibanye said.
The miner also backed its full-year guidance.
U.S. PGM operations are expected to be at, or exceed, the upper end of its guided production range, it said. Meanwhile, all-in sustaining costs are seen at the lower end of the range. It is guiding for U.S. platinum and palladium production of 255,000 to 270,000 ounces at an all-in cost of between $1,420 and $1,460 an ounce.
Sibanye's results were better than expected as production across its assets came in higher than anticipated, RBC Capital Markets analysts wrote in a note to clients.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
November 06, 2025 04:35 ET (09:35 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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