|Bid||1,540.00 x 0|
|Ask||1,595.00 x 0|
|Day's Range||1,481.00 - 1,580.00|
|52 Week Range||6.82 - 1,580.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 21, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||14.03|
(Bloomberg) -- Sibanye Gold Ltd. said consultations over restructuring unprofitable gold-mining operations in South Africa could lead to more than 6,000 jobs losses.
While Sibanye said earnings were boosted by a rally in palladium prices and “significantly higher” basket prices for PGMs, the year was soured by a spike in workers’ deaths and a strike by one of the largest unions over wages at its gold mines in South Africa. “Improvements were partly offset by losses from the South Africa gold operations due to safety incidents in the first half of 2018 and the Association of Mine Workers and Construction Union strike towards the end of the year, as well as significant decline in the deferred tax rate adjustments relative to 2017,” Sibanye said. Three of the company’s gold mines are experiencing a strike by thousands of workers allied to AMCU.
If you're looking for a diversified precious metals play, Sibanye-Stillwater's differentiated portfolio is interesting, but is it worth investing in?
Which Gold Stocks Are Looking Attractive in 2019?(Continued from Prior Part)AngloGold Ashanti’s rerating potentialSouth African miners (GDXJ) have traditionally traded at discounts to their global counterparts (GDX), primarily due to South
The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors endured a torrid quarter, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As […]
Sibanye-Stillwater ADR (SBGL) jumped 2.78% to $2.59 per share on Tuesday after the company announced Drdgold Ltd. (DRD), in which it has a 38% controlling interest stake, successfully completed the first phase of the Far West Gold Recoveries project. The completion of the project will enable Drdgold, which specializes in the recovery and sale of gold from surface tailings in South Africa, to deliver the Driefontein 2 gold concentrator with the tailings from the Driefontein 5 dump of waste rock from previous mining activities in the area. Warning! GuruFocus has detected 7 Warning Signs with SBGL.
Sibanye-Stillwater (SBGL) announced on Monday that the Association of Mineworkers and Construction Union is going to start a protected strike action at its gold operations in South Africa, where a total of 32,200 workers are employed. The trade union, also known as AMCU, informed the company that its represented workers will start the strike during the evening shift on Wednesday. Warning! GuruFocus has detected 7 Warning Signs with SBGL.
As Positive Catalysts for Gold Emerge, Which Miners May Benefit? South African miners have traditionally traded at a discount to their global counterparts, primarily due to South Africa’s laws, labor concerns, and infrastructure challenges. Among these miners, Sibanye Gold (SBGL) is trading at the highest EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 4.2x—a premium of 23.0% to the peer average.
Shares of miner Sibanye-Stillwater (SBGL) tumbled 9.22% to $2.56 on the New York Stock Exchange on Thursday after reporting operating results for the third quarter. The South African miner produced 308,922 ounces of gold at an all-sustaining cost of $1,290 per ounce and produced 305,227 ounces of 4E platinum group metals at an all-in sustaining cost of $771 per ounce. Warning! GuruFocus has detected 7 Warning Signs with SBGL.
Strapped for cash, Lonmin had unveiled plans to cut 12,600 jobs and have a further 890 merger-related layoffs when Sibanye agreed to buy out the company in December. Lonmin said it remains committed to the proposed deal with the South African competition tribunal's hearing set for Nov. 12 to Nov. 14. The funding agreement Lonmin has entered with an associate of Jiangxi Copper Company Limited is secured over Lonmin's assets and removes some restrictions present in the company's current debt facilities related to completion of the Sibanye deal.
According to the consensus compiled by Thomson Reuters, Harmony Gold (HMY) has “buy” ratings from only 30% of the analysts covering the stock. While its percentage of “buy” ratings are in the bottom five for gold miners, analysts’ optimism for the stock has improved in the last year. A year ago, HMY stock had only 10% “buy” recommendations.
Among the major gold mining and gold streaming companies, Wheaton Precious Metals (WPM), the world’s largest precious metals streaming company, has received the highest percentage of “buy” recommendations at 100%. That level hasn’t changed much over the past year.
The two biggest South African unions at Sibanye Gold Ltd.’s mines got permission to strike over pay after a deadlock in gold wage talks. The National Union of Mineworkers and Association of Mineworkers and Construction Union received strike certificates at Sibanye after negotiations were referred to the Commission for Conciliation, Mediation and Arbitration, Minerals Council South Africa, an industry lobby group, said Thursday. AMCU was also granted permission to strike at Harmony Gold Mining Co. The approval ensures that the work stoppage is legal, which means employees can’t lose their jobs for participating.
South Africa’s antitrust regulator recommended Sibanye Gold Ltd.’s acquisition of Lonmin Plc be approved, clearing a key hurdle for the deal that throws a lifeline to the struggling platinum producer. It may be approved if Sibanye tries to save about 3,700 jobs of the more than 13,000 it plans to cut over the next two years, the Competition Commission said on Monday. Sibanye’s acquisition of Lonmin is the latest in a series of deals by Chief Executive Officer Neal Froneman, who has transformed the gold miner by expanding into platinum-group metals and last year bought a U.S. palladium miner for $2.2 billion.
After more than two decades of improving mine safety since the end of apartheid, South Africa’s progress has stalled with an increase in gold-mining deaths. Most of the gold mining fatalities are due to workers being crushed under falling rocks, caused by more frequent tremors as companies dig deeper for the precious metal, in some cases reaching depths of more than 4 kilometers (2.5 miles). The government is investigating Sibanye Gold Ltd.’s operations, where over half the gold mining deaths occurred this year.
Three of Sibanye Gold Ltd.’s largest investors, controlling more than a third of its shares, have indicated they will vote in favor of its planned takeover of Lonmin Plc, according to people familiar with the matter. Gold One Group, Sibanye’s largest investor with about 19 percent, and South Africa’s Public Investment Corp. both told the companies they will support the all-share deal, said the people, who asked not to be identified because the information is private. Exor Investments UK LLP, which owns shares in both companies, has also indicated it will back the transaction, they said.
Wheaton has made two streaming deals so far this year. Taken together, they make the stock an increasingly attractive precious metals option.
Sibanye-Stillwater (SBGL) jumped 0.87% to $2.32 on the New York Stock Exchange on Thursday after reporting its operating and financial results for the first half of fiscal 2018. The South African miner recorded a 26% year-over-year growth in adjusted earnings before interest, taxes, depreciation and amortization to $316.4 million and a 24% increase in revenue to $1.9 million. Warning! GuruFocus has detected 7 Warning Signs with SBGL.