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Why is Sibanye Stillwater Limited Adr (SBSW) Stock down?
Shares of Sibanye Materials (SBSW) dropped by 17.88% from $5.20 to $4.27 in the trading on Tuesday, November 21. The reason why SBSW is down today is due to the company's announcement regarding the launch of $500 million in senior unsecured guaranteed convertible bonds due in 2028. The announcement of convertible bond issuance can put downward pressure on the company's stock price, as it can create uncertainty and concern among investors about potential dilution. This can lead to a decline in the stock price, as observed in the 17.88% drop mentioned.
Shares of Sibanye Stillwater Limited (SBSW) dropped by 8.78% from $6.15 to $5.61 in the trading on Wednesday, October 18, 2023. The reason why SBSW stock down is due to two key downgrades. BofA Securities downgraded the rating from Neutral to Underperform, while RBC Capital analyst Tyler Broda lowered the rating from Outperform to Sector Perform and also reduced the price target from $9 to $6.5. These downgrades had a negative impact on investor sentiment, leading to the decline in Sibanye Stillwater Limited's stock price.
Sibanye Stillwater (NYSE:SBSW) was downgraded from Buy to Neutral by Bank of America due to increased spending for battery materials, causing a 6.20% drop in SBSW shares from $6.45 to $6.05. In the first half of 2023, the company reported a 37% decrease in adjusted Ebitda to $776 million and a 14% decline in revenue to $3.33 billion. SBSW's stock has fallen 30% over the past year.
Sibanye Stillwater Limited (SBSW) stocks declined 4.72% to $6.66 on Tuesday trading after 1H earning release. 1H Group adjusted EBITDA of $776 million for H1 2023, was 37% lower than adjusted EBITDA of $1.5 billion for the comparable period in 2022, primarily reflecting the significant decline in PGM prices and regional operational challenges partly offset by the improved performance from the SA gold operations.
https://seekingalpha.com/news/4006968-sibanye-stillwater-reports-1h-results-updates-fy23-guidance
Sibanye Stillwater's shares declined by 6.04% after Aqr Capital Management reduced its investment in the company by 40.66% in the past quarter.
https://twitter.com/AInvestOfficial/status/1691215122537091072
Sibanye Stillwater (SBSW) shares fell 8.41%, from $7.73 to $7.08, after the company suspended mining operations at its Kloof 4 shaft in South Africa, which accounts for 14% of its gold production, due to infrastructure damage resulting from a safety trial run on July 30. Fortunately, no injuries were reported.
Sibanye Stillwater (SSWJ.J) reported a drop of approximately 10% in platinum group metal (PGM) output during Q1. This decline was primarily due to power cuts in South Africa and operational disruptions in the United States.
Sibanye-Stillwater's shares fell 6.55% to $8.71 as the company issued a profit warning, citing a potential 51% annual profit decline due to a three-month strike in South African gold mines and U.S. operations disrupted by floods. Earnings per share for 2022 are expected to range between R6.19 and R6.84, compared to R12.72 the previous year, with full-year results scheduled for release on February 28.
Sibanye-Stillwater Ltd. (SBSW) saw a 7.90% drop to $8.39 after reporting a decline in third-quarter adjusted Ebitda and revising down its 2022 U.S. platinum group metals (PGM) production forecast due to electricity shortages in South Africa. U.S. PGM production is now projected to be between 445,000 and 460,000 ounces, while the South Africa PGM production forecast remains unchanged at 1.75 million to 1.85 million ounces.
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