Gold, silver and PGM prices are getting a tailwind from falling Treasury yields - FX Empire's Zernov
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Impala Platinum: The Only PGM Miner Outperforming SPY YTD; Rating Unchanged
Despite lower PGM prices, Impala remains profitable with $533 million EBITDA and $86 million operating income FY24. FY24 results show a 21% YoY increase in 6E production and stable unit costs, highlighting operational efficiency across all segments. Impala has the best balance sheet in its peer group, with 3.5% Total Debt/Equity and 27.3% Total Liabilities/Total Assets.
Anglo American Platinum: The Best PGM Miner; Rating Upgrade
Anglo-American Platinum, delivered strong 1H24 results despite weak metal prices, maintaining a competitive AISC and strong financial health. Anglo Platinum keeps a prudent capital structure. The Total Debt/Equity ratio is 12.6%, and Total Liabilities/Total Assets is 42.2%. BHP's proposed merger with Anglo American Plc was rejected by shareholders due to risks and questionable benefits.
Sibanye Stillwater Stock: A Contrarian Bet On PGMs Revival; Rating Unchanged
Sibanye Stillwater's 1H24 results show increased PGM production but lower prices and higher costs, leading to a 53% drop in adjusted EBITDA. Sibanye has improved its debt profile with new credit facilities and a gold prepayment deal, ensuring financial stability amid market challenges. The political shift in South Africa and ongoing PGM demand support a positive outlook, making SBSW a speculative yet promising investment.
