Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

South African (JSE) Materials Sector Analysis

UpdatedJan 12, 2026
DataAggregated Company Financials
Companies29
  • 7D0.6%
  • 3M10.3%
  • 1Y113.0%
  • YTD3.0%

Over the last 7 days, the Materials industry has risen 3.0%, driven by gains from Gold Fields of 4.1%. This means that the industry has gained 111% over the past year. Looking forward, earnings are forecast to grow by 35% annually.

Sector Valuation and Performance

Has the South African Materials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 12 Jan 2026R2.1tR1.1tR63.0b12.9x33.9x1.9x
Wed, 10 Dec 2025R1.9tR1.1tR64.0b12.4x29.8x1.7x
Fri, 07 Nov 2025R1.8tR1.1tR68.3b10.8x25.7x1.6x
Sun, 05 Oct 2025R1.9tR1.1tR68.0b10.6x27.8x1.7x
Tue, 02 Sep 2025R1.6tR1.1tR72.1b10.9x21.6x1.4x
Thu, 31 Jul 2025R1.4tR1.1t-R17,416,210,545.987.5x-82.7x1.3x
Sat, 28 Jun 2025R1.3tR1.1t-R11,759,878,319.587.7x-108.9x1.1x
Mon, 26 May 2025R1.3tR1.1t-R12,033,775,054.547.2x-106.1x1.1x
Wed, 23 Apr 2025R1.3tR1.1t-R8,823,208,695.857.4x-145.6x1.1x
Fri, 21 Mar 2025R1.2tR1.1t-R8,480,337,734.148.4x-140.3x1.1x
Sun, 16 Feb 2025R1.1tR1.1t-R49,826,347,205.088.6x-22.1x1x
Tue, 14 Jan 2025R1.0tR1.1t-R51,810,946,184.129.4x-19.4x0.9x
Thu, 12 Dec 2024R986.4bR1.1t-R52,879,752,469.889.8x-18.7x0.9x
Sat, 09 Nov 2024R1.0tR1.1t-R58,681,574,743.699.5x-17.8x0.9x
Mon, 07 Oct 2024R1.1tR1.1t-R59,822,641,081.599.8x-17.8x0.9x
Wed, 04 Sep 2024R949.8bR1.1t-R42,984,766,850.8410.8x-22.1x0.8x
Fri, 02 Aug 2024R1.1tR1.2tR12.5b8.8x89.2x1x
Sun, 30 Jun 2024R1.1tR1.2tR16.7b9x63.6x0.9x
Tue, 28 May 2024R1.2tR1.2tR15.6b8.7x75.6x1x
Thu, 25 Apr 2024R1.1tR1.2tR17.1b7.9x65.9x0.9x
Sat, 23 Mar 2024R1.1tR1.2tR16.7b8.2x65.9x0.9x
Mon, 19 Feb 2024R1.0tR1.2tR96.5b9x10.9x0.9x
Wed, 17 Jan 2024R1.1tR1.2tR106.5b10.2x10.6x0.9x
Fri, 15 Dec 2023R1.2tR1.2tR106.4b9x11.3x1x
Sun, 12 Nov 2023R1.1tR1.2tR107.7b8.2x9.8x0.8x
Tue, 10 Oct 2023R1.1tR1.3tR109.6b8.7x9.9x0.9x
Thu, 07 Sep 2023R1.2tR1.4tR112.1b8x10.8x0.9x
Sat, 05 Aug 2023R1.3tR1.4tR188.0b5.6x7.1x1x
Mon, 03 Jul 2023R1.4tR1.4tR215.8b4.7x6.3x1x
Wed, 31 May 2023R1.5tR1.5tR231.1b5x6.7x1.1x
Fri, 28 Apr 2023R1.6tR1.4tR234.3b5.4x6.8x1.1x
Sun, 26 Mar 2023R1.4tR1.4tR221.7b5.3x6.5x1x
Tue, 21 Feb 2023R1.5tR1.4tR246.9b5.8x6.2x1.1x
Thu, 19 Jan 2023R1.7tR1.4tR248.1b6.2x6.9x1.2x
Price to Earnings Ratio

6.9x


Total Market Cap: R1.7tTotal Earnings: R248.1bTotal Revenue: R1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Materials Sector Price to Earnings3Y Average -6.1x202420252026
Current Industry PE
  • Investors are optimistic on the South African Materials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 33.9x which is higher than its 3-year average PE of -6.1x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 37% per year over the last three years,
  • Revenues have also declined 7.3% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the South African Materials sector?

ZA Market1.16%
Materials0.62%
Paper and Forestry Products7.60%
Basic Materials4.24%
Chemicals3.61%
Metals and Mining0.40%
Packaging-0.31%
Industry PE
  • Investors are most optimistic about the Metals and Mining industry, which is trading close to its 3-year average PE ratio of 37.7x.
    • Analysts are expecting annual earnings growth of 35.0%, which is higher than its past year's earnings decline of 34.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Paper and Forestry Products industry, expecting annual earnings growth of 85% over the next 5 years.
  • However this is lower than its past earnings growth rate of 426% per year.
  • In contrast, the Packaging industry is expected to see its earnings grow by 8.3% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
GFI Gold FieldsR748.531.2%
+R7.6b		164.8%PE21.6x
SSW Sibanye StillwaterR65.352.3%
+R4.2b		287.4%PS1.7x
SOL SasolR111.183.8%
+R2.6b		14.1%PE10.6x
SAP SappiR26.248.2%
+R1.2b		-46.7%PS0.2x
KIO Kumba Iron OreR365.830.5%
+R580.5m		8.3%PE8x

Latest News

SSW
R65.35
Sibanye Stillwater
7D
2.3%
1Y
287.4%
IMP
R276.56
Impala Platinum Holdings
7D
-0.06%
1Y
172.1%
NPH
R350.58
Northam Platinum Holdings
7D
-0.5%
1Y
221.7%

NPH: Higher P/E Assumptions Will Limit Future Upside Despite Firm Margins

Analysts have nudged their price target for Northam Platinum Holdings higher to R290.06 from R283.06, reflecting updated assumptions around discount rates, margins, and future P/E expectations. Valuation Changes Fair Value: Updated slightly higher from R283.06 to R290.06 per share.
SOL
R111.18
Sasol
7D
3.8%
1Y
14.1%
GFI
R748.53
Gold Fields
7D
1.2%
1Y
164.8%

GFI: Higher Gold Price Assumptions And Projects Are Expected To Drive Upside

The analyst price target for Gold Fields has shifted modestly higher to about $831.30 from $815.61, as analysts factor in updated fair value, adjusted discount rates, stronger revenue growth and profit margin assumptions, and a slightly lower future P/E, informed by recent research that reflects reactions to Q3 results, evolving gold price views, and the company’s latest capital plans. Analyst Commentary Recent Street research on Gold Fields shows a mix of optimism and caution, with several firms revisiting their targets and ratings after the latest Q3 update, revised gold price assumptions, and the company’s refreshed capital plans and guidance.
HAR
R339.88
Harmony Gold Mining
7D
0.3%
1Y
92.4%

HAR: Copper Expansion And Payout Policy Will Support Balanced Medium Term Outlook

Analysts have nudged their price target for Harmony Gold Mining up slightly, with fair value moving from $365.00 to $370.00 as they factor in updated assumptions around the discount rate, long term revenue growth, profit margins, and a future P/E of 12.46x. What's in the News Approved high margin, long life EVA COPPER PRO project after a three year feasibility study and FEED phase using Tier 1 contractors.
VAL
R1,446.43
Valterra Platinum
7D
-1.2%
1Y
128.6%
PPC
R5.58
PPC
7D
4.9%
1Y
19.7%

PPC: Future Tariff Cuts Will Support Earnings Momentum And Share Upside

Analysts have slightly raised their price target on PPC to reflect a modest uptick in earnings visibility and valuation confidence, nudging the projected fair value toward approximately $6.80 per share. What's in the News President Trump is expected to sign an order reducing tariffs on beef, tomatoes, coffee and bananas.
HLM
R2.36
Hulamin
7D
-1.7%
1Y
-28.5%
BIK
R0.12
Brikor
7D
-14.3%
1Y
-14.3%

Brikor Limited's (JSE:BIK) 29% Dip In Price Shows Sentiment Is Matching Revenues

Dec 20
Brikor Limited's (JSE:BIK) 29% Dip In Price Shows Sentiment Is Matching Revenues
KIO
R365.83
Kumba Iron Ore
7D
0.5%
1Y
8.3%
SAP
R26.24
Sappi
7D
8.2%
1Y
-46.7%
MDI
R15.55
Master Drilling Group
7D
-6.9%
1Y
15.2%
ARI
R201.20
African Rainbow Minerals
7D
-0.09%
1Y
32.9%

Is African Rainbow Minerals (JSE:ARI) A Risky Investment?

Dec 02
Is African Rainbow Minerals (JSE:ARI) A Risky Investment?
AFE
R95.10
AECI
7D
4.9%
1Y
15.1%
MPT
R21.75
Mpact
7D
-0.7%
1Y
-26.4%