Announcement • Aug 19
Polymetal International plc to Report First Half, 2023 Results on Sep 25, 2023 Polymetal International plc announced that they will report first half, 2023 results on Sep 25, 2023 Announcement • Jul 29
Polymetal Shareholders Approve London Stock Exchange Delisting Shareholders of Polymetal International plc have approved the delisting of the company's shares from the London Stock Exchange at an extraordinary meeting, the gold and silver miner said. The company can now apply to cancel admission to trading. Such cancellation is expected to take effect on August 29. Polymetal said on July 21 that it expects to complete its re-domiciliation to the Astana International Financial Centre (AIFC) in Kazakhstan on August 7. Following re-domiciliation, Polymetal shares will no longer be compatible with CREST, resulting in non-compliance with LSE listing requirements. Therefore, the last day of trading on the LSE is August 1. The Astana International Exchange (AIX) and Moscow Exchange will suspend trading in Polymetal during the re-domiciliation process with trading expected to resume shortly afterwards. The company's primary listing will be on the AIX. Announcement • Jul 12
Polymetal Convokes Shareholders Meeting to Approve LSE Delisting Polymetal International plc will hold a meeting of shareholders on July 28 to vote on delisting from the LSE, the gold and silver miner said. The company also said it had made progress with the FCA since the date of the re-domiciliation circular and has obtained the necessary approval of the FCA for the publication of this document. "The date of the London de-listing is expected to be after the re-domiciliation expected date. Therefore, if the re-domiciliation proceeds, the company will apply to the FCA and/or the LSE, as applicable, to suspend the London listing on the re-domiciliation expected date," Polymetal said. The London listing will remain suspended from the re-domiciliation effective date until the date of the London de-listing. Re-domiciliation will not occur prior to the week commencing July 31, 2023, Polymetal said in a press release. Announcement • Jun 30
Polymetal International plc, Annual General Meeting, Jul 25, 2023 Polymetal International plc, Annual General Meeting, Jul 25, 2023, at 10:00 Coordinated Universal Time. Location: offices of etc.venues, 8 Fenchurch Pl, London EC3M 4PB. London United Kingdom Announcement • Jun 20
Polymetal International plc Announces Paul Ostling to Step Down from the Board of Directors Polymetal International plc announced that Paul Ostling is stepping down from the Board of Directors effective immediately. Effective immediately, the composition of the Company's Board Committees are as follows: The Audit and Risk Committee: Steven Dashevsky (Chair), Evgueni Konovalenko, Richard Sharko. The Remuneration Committee: Richard Sharko (Chair), Evgueni Konovalenko, Janat Berdalina. The Nomination Committee: Evgueni Konovalenko (Chair), Janat Berdalina, Pascale Perez. -- The Safety and Sustainability Committee: Janat Berdalina (Chair), Vitaly Nesis, Steven Dashevsky, PascalePerez. Announcement • Jun 01
Polymetal International to Delist from the London Stock Exchange and List on AIFC's Bourse, the AIX Polymetal International plc's shareholders have approved re-domiciliation of the company from Jersey Island to Kazakhstan's Astana International Financial Centre (AIFC). Following the re-domiciliation, the company's shares will not comply with the London Stock Exchange's regulations. It will have to delist from the London Stock Exchange and list on AIFC's bourse, the AIX. Announcement • May 12
Polymetal Proposes to Delist from London Stock Exchange Polymetal International plc has put forward a plan to delist from the London Stock Exchange (LSE) and relocate its headquarters to the Astana International Financial Centre (AIFC) in Kazakhstan, Mining Weekly has reported. The move comes in response to Russia designating Jersey, where Polymetal is currently headquartered, an "unfriendly country" due to the Russia-Ukraine conflict. As a result of sanctions imposed by the US, UK, EU, Canada, Switzerland, Australia and Japan on certain Russian individuals, entities and sectors, Russia introduced counter-sanction measures, including sanctions against jurisdictions on the "unfriendly countries list" under Russian law. Announcement • May 11
Polymetal International plc Reiterates Production Guidance for the Year 2023 Polymetal International plc reiterated production guidance for the year 2023. For the year, the company reiterates its 2023 production guidance of 1.7 Moz of GE. Reported Earnings • Mar 27
Full year 2022 earnings released: US$0.61 loss per share (vs US$1.91 profit in FY 2021) Full year 2022 results: US$0.61 loss per share (down from US$1.91 profit in FY 2021). Revenue: US$2.80b (down 3.1% from FY 2021). Net loss: US$288.0m (down 132% from profit in FY 2021). Production and reserves: Gold Production: 1,450 troy koz (1,422 troy koz in FY 2021) Proved and probable reserves (ore): 233.5 Mt (236 Mt in FY 2021) Number of mines: 20 (20 in FY 2021) Silver Production: 21,000 troy koz (20,400 troy koz in FY 2021) Proved and probable reserves (ore): 233.5 Mt (78.16 Mt in FY 2021) Number of mines: 12 (12 in FY 2021) Copper Production: 1,664 t (1,901 t in FY 2021) Proved and probable reserves (ore): 233.5 Mt (25.34 Mt in FY 2021) Number of mines: 2 (2 in FY 2021) Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. Announcement • Feb 10
Polymetal International plc to Report Fiscal Year 2022 Results on Mar 16, 2023 Polymetal International plc announced that they will report fiscal year 2022 results on Mar 16, 2023 Announcement • Jan 26
Polymetal International plc Reaffirms Production Guidance for the Fiscal Year 2023 Polymetal International plc reaffirmed production guidance for the fiscal year 2023. The company reiterates its current production guidance for fiscal year 2023 of 1.7 Moz of GE. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to UK£2.76, the stock trades at a trailing P/E ratio of 9.9x. Average forward P/E is 9x in the Metals and Mining industry in the United Kingdom. Total loss to shareholders of 75% over the past three years. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improved over the past week After last week's 28% share price gain to UK£3.15, the stock trades at a trailing P/E ratio of 11.1x. Average forward P/E is 7x in the Metals and Mining industry in the United Kingdom. Total loss to shareholders of 71% over the past three years. Board Change • Jan 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Pascale Perez was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 04
Consensus estimates of losses per share improve by 25% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from US$3.14b to US$3.19b. EPS estimate increased from -US$0.28 per share to -US$0.21 per share. Metals and Mining industry in the United Kingdom expected to see average net income decline 7.8% next year. Consensus price target broadly unchanged at UK£3.00. Share price rose 4.3% to UK£2.20 over the past week. Major Estimate Revision • Oct 07
Consensus forecasts updated The consensus outlook for 2022 has been updated. Expected to report loss instead of -US$0.28 instead of US$0.88 per share profit previously forecast. . Revenue forecast unchanged at US$3.14b Metals and Mining industry in the United Kingdom expected to see average net income growth of 5.1% next year. Consensus price target down from UK£11.44 to UK£3.00. Share price rose 4.6% to UK£2.04 over the past week. Major Estimate Revision • Sep 24
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from US$1.74 to US$0.88. Revenue forecast unchanged from US$3.16b at last update. Net income forecast to shrink 20% next year vs 6.1% growth forecast for Metals and Mining industry in the United Kingdom . Consensus price target broadly unchanged at UK£11.70. Share price fell 16% to UK£1.94 over the past week. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Paul Ostling was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 169% share price gain to UK£3.39, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 6x in the Metals and Mining industry in the United Kingdom. Total loss to shareholders of 54% over the past three years. Reported Earnings • Mar 09
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: US$1.91 (down from US$2.26 in FY 2020). Revenue: US$2.89b (flat on FY 2020). Net income: US$904.0m (down 15% from FY 2020). Profit margin: 31% (down from 37% in FY 2020). Production and reserves: Gold Production: 1,422 troy koz (1,402 troy koz in FY 2020) Proved and probable reserves (ore): 236 Mt (230 Mt in FY 2020) Number of mines: 20 (20 in FY 2020) Silver Production: 20,400 troy koz (18,800 troy koz in FY 2020) Proved and probable reserves (ore): 78.16 Mt (67.3 Mt in FY 2020) Number of mines: 12 (12 in FY 2020) Copper Production: 1,901 t (1,544 t in FY 2020) Proved and probable reserves (ore): 25.34 Mt (31.74 Mt in FY 2020) Number of mines: 2 (2 in FY 2020) Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.7%. Over the next year, revenue is forecast to grow 9.0% while themining industry in the United Kingdom is not expected to grow. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Board Change • Mar 08
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Giacomo Baizini was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Mar 03
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$3.17b to US$3.09b. EPS estimate also fell from US$1.95 per share to US$1.72 per share. Net income forecast to shrink 13% next year vs 15% decline forecast for Metals and Mining industry in the United Kingdom. Consensus price target up from UK£15.32 to UK£15.84. Share price fell 74% to UK£1.78 over the past week. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 42% share price decline to UK£6.82, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Metals and Mining industry in the United Kingdom. Total loss to shareholders of 7.9% over the past three years. Upcoming Dividend • Sep 02
Upcoming dividend of US$0.45 per share Eligible shareholders must have bought the stock before 09 September 2021. Payment date: 30 September 2021. Trailing yield: 6.8%. Within top quartile of British dividend payers (3.8%). Lower than average of industry peers (7.9%). Reported Earnings • Aug 28
First half 2021 earnings released: EPS US$0.89 (vs US$0.80 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: US$1.27b (up 12% from 1H 2020). Net income: US$419.0m (up 11% from 1H 2020). Profit margin: 33% (in line with 1H 2020). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 29
Upcoming dividend of US$0.89 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 28 May 2021. Trailing yield: 6.0%. Within top quartile of British dividend payers (4.1%). Higher than average of industry peers (5.0%). Reported Earnings • Mar 05
Full year 2020 earnings released: EPS US$2.30 (vs US$1.02 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$2.87b (up 28% from FY 2019). Net income: US$1.09b (up 126% from FY 2019). Profit margin: 38% (up from 21% in FY 2019). Production and reserves: Gold Production: 1,402 troy koz (1,316 troy koz in FY 2019) Silver Production: 18,800 troy koz (21,600 troy koz in FY 2019) Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 05
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 0.4%. Earnings per share (EPS) exceeded analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 11%, compared to a 24% growth forecast for the Metals and Mining industry in the United Kingdom. Is New 90 Day High Low • Feb 17
New 90-day low: UK£15.51 The company is down 8.0% from its price of UK£16.79 on 19 November 2020. The British market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 28% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£20.58 per share. Recent Insider Transactions • Feb 03
Board Member recently bought UK£7.7k worth of stock On the 27th of January, Manuel Lino De Sousa-Oliveira bought around 480 shares on-market at roughly UK£16.02 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold UK£271k more in shares than they bought in the last 12 months. Recent Insider Transactions • Jan 15
Board Member recently bought UK£5.3k worth of stock On the 8th of January, Manuel Lino De Sousa-Oliveira bought around 300 shares on-market at roughly UK£17.66 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold UK£278k more in shares than they bought in the last 12 months. Is New 90 Day High Low • Nov 24
New 90-day low: UK£15.95 The company is down 18% from its price of UK£19.52 on 25 August 2020. The British market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£18.19 per share. Is New 90 Day High Low • Oct 30
New 90-day low: UK£16.40 The company is down 13% from its price of UK£18.95 on 31 July 2020. The British market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£19.42 per share. 