Sibanye Stillwater Guides H1 2026 HEPS Up >200% on Strong Gold and PGM Prices
SBSW sits 69% above its 52-week low of $7.095.
Summary
Sibanye Stillwater expects H1 2026 headline earnings per share to rise more than 200% year-over-year, with EPS swinging from a loss to a profit of 597-658 SA cents, driven by stronger gold and PGM prices and record SA gold performance.
Key Events · Earnings and Guidance · SBSW
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HEPS Guidance Up >200%
H1 2026 HEPS expected at 571-631 SA cents (34.8-38.4 US cents), up from 190 SA cents in H1 2025.
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EPS Swings to Profit
EPS expected at 597-658 SA cents (36.3-40.1 US cents), versus a loss of 127 SA cents in H1 2025 — an improvement of more than 560%.
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SA PGM EBITDA Up ~300%
Adjusted EBITDA from SA PGM operations increased approximately 300% on a 67% higher PGM basket price and 12% higher sales volumes.
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SA Gold Record Performance
SA gold adjusted EBITDA rose ~85% on a 35% higher average gold price and 5% more gold sold, despite 2% lower production.
Analysis · SBSW · Energy & Transportation
Sibanye Stillwater's trading statement reveals a dramatic earnings turnaround for H1 2026. Headline earnings per share are expected to more than triple year-over-year, driven by a 35% increase in the average rand gold price received and a 67% increase in the PGM basket price. The SA PGM operations saw adjusted EBITDA jump approximately 300%, while SA gold operations achieved record financial performance with adjusted EBITDA up roughly 85%. The comparison is flattered by the absence of R9.7 billion in impairments that hit H1 2025, but even excluding non-recurring Section 45X credits from the prior period, underlying profitability improved substantially. This is the first quantified earnings guidance for the period and materially exceeds the 20% threshold that triggered the JSE trading statement requirement. Full results follow on 1 September 2026.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 35.7% of the 1838 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SBSW was trading at $12.01 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $8.8B. The 52-week trading range was $7.10 to $21.29. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.