Narrative Update • Jun 11
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South African (JSE) Precious Metals and Minerals Industry Analysis
UpdatedJun 16, 2026
DataAggregated Company Financials
Companies7
- 7D11.1%
- 3M-13.0%
- 1Y62.0%
- YTDn/a
Over the last 7 days, the Precious Metals and Minerals industry has dropped 2.1%, driven by pullbacks in Gemfields Group and Tharisa of 4.4% and 0.8%, respectively. Meanwhile, Valterra Platinum actually outperformed within the industry, gaining 11% in the last week. Over the past 12 months, the industry was up 44%. As for the next few years, earnings are expected to grow by 27% per annum.
Industry Valuation and Performance
Has the South African Precious Metals and Minerals Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 16 Jun 2026 | R784.9b | R404.8b | R29.1b | 12.1x | 26.9x | 1.9x |
| Thu, 14 May 2026 | R956.6b | R403.7b | R28.4b | 20.8x | 33.7x | 2.4x |
| Sat, 11 Apr 2026 | R928.8b | R403.7b | R28.4b | 20.7x | 32.7x | 2.3x |
| Mon, 09 Mar 2026 | R982.4b | R404.1b | R27.2b | 21.8x | 36.2x | 2.4x |
| Wed, 04 Feb 2026 | R1.0t | R341.2b | -R407,620,738.80 | 193.5x | -2476.5x | 3x |
| Fri, 02 Jan 2026 | R913.5b | R341.7b | -R427,250,896.00 | 181.8x | -2138.1x | 2.7x |
| Sun, 30 Nov 2025 | R786.6b | R342.7b | -R907,913,340.80 | 156.2x | -866.4x | 2.3x |
| Tue, 28 Oct 2025 | R668.9b | R342.8b | -R927,653,357.40 | 132.1x | -721.1x | 2x |
| Thu, 25 Sep 2025 | R716.8b | R343.8b | -R493,997,567.40 | 144.4x | -1450.9x | 2.1x |
| Sat, 23 Aug 2025 | R564.7b | R341.6b | -R21,004,855,140.10 | 30.2x | -26.9x | 1.7x |
| Mon, 21 Jul 2025 | R604.9b | R351.7b | -R15,277,032,957.80 | 20x | -39.6x | 1.7x |
| Wed, 18 Jun 2025 | R484.1b | R351.9b | -R15,286,385,523.10 | 16.7x | -31.7x | 1.4x |
| Fri, 16 May 2025 | R380.2b | R353.5b | -R14,727,325,969.40 | 12.9x | -25.8x | 1.1x |
| Sun, 13 Apr 2025 | R397.0b | R355.0b | -R13,398,741,282.80 | 13.9x | -29.6x | 1.1x |
| Tue, 11 Mar 2025 | R393.0b | R354.2b | -R13,451,374,144.10 | 14.3x | -29.2x | 1.1x |
| Thu, 06 Feb 2025 | R376.0b | R355.3b | -R54,207,636,888.90 | 9.1x | -6.9x | 1.1x |
| Sat, 04 Jan 2025 | R323.6b | R355.6b | -R54,189,120,132.30 | 8x | -6x | 0.9x |
| Mon, 02 Dec 2024 | R350.1b | R354.9b | -R54,240,530,215.50 | 8.3x | -6.5x | 1x |
| Wed, 30 Oct 2024 | R451.0b | R353.9b | -R54,519,504,504.00 | 10.8x | -8.3x | 1.3x |
| Fri, 27 Sep 2024 | R372.7b | R353.9b | -R55,593,342,102.00 | 15x | -6.7x | 1.1x |
| Sun, 25 Aug 2024 | R375.7b | R369.2b | -R35,748,759,150.00 | 10.2x | -10.5x | 1x |
| Tue, 23 Jul 2024 | R360.0b | R382.2b | -R34,297,094,182.60 | 8.6x | -10.5x | 0.9x |
| Thu, 20 Jun 2024 | R350.9b | R381.9b | -R34,303,415,251.80 | 8.3x | -10.2x | 0.9x |
| Sat, 18 May 2024 | R443.6b | R381.5b | -R34,043,534,162.50 | 9.6x | -13x | 1.2x |
| Mon, 15 Apr 2024 | R464.4b | R382.1b | -R33,990,356,083.00 | 10.2x | -13.7x | 1.2x |
| Wed, 13 Mar 2024 | R364.5b | R382.7b | -R34,399,232,125.00 | 8.6x | -10.6x | 1x |
| Fri, 09 Feb 2024 | R360.2b | R435.8b | R52.5b | 6.9x | 6.9x | 0.8x |
| Sun, 07 Jan 2024 | R471.4b | R449.4b | R53.2b | 8.1x | 8.9x | 1x |
| Tue, 05 Dec 2023 | R405.6b | R450.3b | R53.8b | 8.3x | 7.5x | 0.9x |
| Thu, 02 Nov 2023 | R389.7b | R450.0b | R53.8b | 8.5x | 7.2x | 0.9x |
| Sat, 30 Sep 2023 | R449.8b | R450.3b | R54.8b | 8.6x | 8.2x | 1x |
| Mon, 28 Aug 2023 | R456.3b | R474.5b | R87.2b | 4.9x | 5.2x | 1x |
| Wed, 26 Jul 2023 | R548.4b | R476.6b | R99.6b | 4.6x | 5.5x | 1.2x |
| Fri, 23 Jun 2023 | R539.5b | R498.4b | R118.7b | 4.4x | 4.5x | 1.1x |
Price to Earnings Ratio
4.5x
Current Industry PE
- Investors are pessimistic on the South African Precious Metals and Minerals industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 24.5x which is higher than its 3-year average PE of -248x.
- The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 1.8x.
Past Earnings Growth
- The earnings for companies in the Precious Metals and Minerals industry have declined 37% per year over the last three years,
- Revenues have also declined 6.7% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Comparison
How does South African Precious Metals and Minerals compare with similar industries?
| ZA Market | 3.85% | |
| Materials | 8.28% | |
| Metals and Mining | 10.82% | |
| Precious Metals and Minerals | 11.11% | |
| Gold | 11.75% | |
| Diversified Metals and Mining | 7.97% | |
| Steel | 3.59% | |
| Aluminum | -1.14% | |
| Copper | -8.16% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| VAL Valterra Platinum | R1.31k | 11.1% +R34.4b | 76.7% | PE22.3x | |
| IMP Impala Platinum Holdings | R219.00 | 15.3% +R26.0b | 51.3% | PE24x | |
| SSW Sibanye Stillwater | R43.42 | 9.5% +R10.6b | 43.3% | PS0.9x | |
| NPH Northam Platinum Holdings | R281.81 | 7.2% +R7.4b | 68.3% | PE12.1x |
