Update shared on19 Sep 2025
Fair value Increased 3.44%Valterra Platinum’s modest price target increase to ZAR832.91 reflects analysts’ confidence in improved operational efficiency, robust platinum demand, and management’s consistent delivery, despite ongoing macroeconomic uncertainties.
Analyst Commentary
- Improved operational efficiency and cost controls highlighted as supporting factors for modest target increases, despite a cautious outlook.
- Bullish analysts cite robust demand trends and resilient platinum pricing underpinning valuation support.
- Bearish analysts reference ongoing macroeconomic uncertainty and commodity market volatility as reasons for maintaining a cautious stance.
- Upward adjustments reflect management’s consistent delivery on production guidance.
- Minor price target downgrades attribute changes to incremental adjustments in long-term precious metals price assumptions.
What's in the News
- Public Investment Corporation Limited increased its stake in Valterra Platinum to 17.208% through an additional minority acquisition.
- Anglo American announced plans to sell its remaining 19.9% stake in Valterra Platinum, leveraging a 77% year-to-date share price gain post-demerger.
- Valterra Platinum completed a follow-on equity offering, raising ZAR 44.109 billion via 52.2 million new shares at ZAR 845 each through a direct listing.
- Certain shares are subject to a 90-day lock-up from September to December 2025 following the recent placement.
- Q2 and H1 2025 production and refined output declined year-over-year, though full-year production guidance was maintained at the lower end following operational disruptions.
Valuation Changes
Summary of Valuation Changes for Valterra Platinum
- The Consensus Analyst Price Target has risen slightly from ZAR805.20 to ZAR832.91.
- The Consensus Revenue Growth forecasts for Valterra Platinum has risen slightly from 4.0% per annum to 4.1% per annum.
- The Future P/E for Valterra Platinum has risen slightly from 26.33x to 27.36x.
Disclaimer
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