Sylvania Platinum Q1 revenue rises 30% on record PGM output

Overview

• PGM and chrome producer's Q1 revenue rose 30% on record PGM output

• Adjusted EBITDA for Q1 rose 47% quarter-on-quarter, driven by higher net revenue

Outlook

• Group targets FY2027 production of 85,000-95,000 4E PGM oz and 110,000-140,000 tons Chrome

• Company says it is working to improve mining performance and ROM feed quality at Thaba JV

• Sylvania to focus on operational improvements and process optimisation across operations

Result Drivers

• PLANT PERFORMANCE - Improved plant stability, longer run times and higher throughput drove increased Chrome and PGM production

• PGM OUTPUT AND PRICES - Higher PGM production and a 6% rise in 4E gross basket price boosted revenue

• THIRD-PARTY ORE - Sourcing higher-grade third-party ore improved Chrome recovery and yield

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the non-gold precious metals & minerals peer group is "buy"

• Wall Street's median 12-month price target for Sylvania Platinum Ltd is GBp159.00, about 85.3% above its October 29 closing price of GBp85.80

• The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 3 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)