What Impala Platinum Holdings Limited's (JSE:IMP) 28% Share Price Gain Is Not Telling You
Dec 18
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South African (JSE) Precious Metals and Minerals Industry Analysis
UpdatedDec 18, 2025
DataAggregated Company Financials
Companies6
- 7D10.7%
- 3M36.1%
- 1Y159.9%
- YTDn/a
The Precious Metals and Minerals industry is up 6.7% in the last week, with Valterra Platinum up 7.4%. Meanwhile, Gemfields Group actually underperformed within the industry, shrinking 7.7% in the last week. In the last 12 months, the industry was up 151%. Earnings are forecast to grow by 47% annually.
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 |
|---|---|---|---|---|---|---|
| Thu, 18 Dec 2025 | R875.2b | R341.9b | -R430,779,669.20 | 177x | -2031.7x | 2.6x |
| Sat, 15 Nov 2025 | R710.8b | R342.7b | -R908,820,533.60 | 143.7x | -782.1x | 2.1x |
| Mon, 13 Oct 2025 | R763.1b | R342.9b | -R941,222,290.20 | 153.9x | -810.8x | 2.2x |
| Wed, 10 Sep 2025 | R625.4b | R344.0b | -R499,680,560.30 | 124.4x | -1251.6x | 1.8x |
| Fri, 08 Aug 2025 | R587.2b | R341.8b | -R21,013,547,666.80 | 32.2x | -27.9x | 1.7x |
| Sun, 06 Jul 2025 | R562.9b | R351.6b | -R15,273,602,573.70 | 19.3x | -36.9x | 1.6x |
| Tue, 03 Jun 2025 | R447.3b | R351.8b | -R15,281,132,463.60 | 15.8x | -29.3x | 1.3x |
| Thu, 01 May 2025 | R382.3b | R354.1b | -R14,726,886,726.20 | 13.1x | -26x | 1.1x |
| Sat, 29 Mar 2025 | R424.7b | R354.3b | -R13,444,295,034.80 | 15.3x | -31.6x | 1.2x |
| Mon, 24 Feb 2025 | R342.3b | R355.9b | -R13,410,243,253.80 | 12.7x | -25.5x | 1x |
| Wed, 22 Jan 2025 | R347.7b | R355.3b | -R54,209,162,377.20 | 8.3x | -6.4x | 1x |
| Fri, 20 Dec 2024 | R325.9b | R355.3b | -R54,214,779,267.30 | 7.9x | -6x | 0.9x |
| Sun, 17 Nov 2024 | R366.8b | R354.4b | -R54,487,936,214.40 | 9x | -6.7x | 1x |
| Tue, 15 Oct 2024 | R367.8b | R353.6b | -R55,625,086,129.60 | 14.4x | -6.6x | 1x |
| Thu, 12 Sep 2024 | R282.7b | R359.9b | -R40,656,065,597.40 | 11.5x | -7x | 0.8x |
| Sat, 10 Aug 2024 | R345.9b | R369.8b | -R35,713,707,148.40 | 9.2x | -9.7x | 0.9x |
| Mon, 08 Jul 2024 | R321.6b | R268.4b | R3.5b | 9.1x | 92.7x | 1.2x |
| Wed, 05 Jun 2024 | R348.0b | R382.6b | -R34,259,143,965.40 | 7.9x | -10.2x | 0.9x |
| Fri, 03 May 2024 | R361.3b | R381.8b | -R34,013,947,498.00 | 8x | -10.6x | 0.9x |
| Sun, 31 Mar 2024 | R386.0b | R382.1b | -R33,991,192,965.00 | 9x | -11.4x | 1x |
| Tue, 27 Feb 2024 | R362.5b | R417.6b | R35.3b | 10x | 10.3x | 0.9x |
| Thu, 25 Jan 2024 | R454.3b | R449.6b | R53.2b | 7.8x | 8.5x | 1x |
| Sat, 23 Dec 2023 | R494.0b | R449.1b | R53.1b | 8.1x | 9.3x | 1.1x |
| Mon, 20 Nov 2023 | R417.2b | R449.8b | R53.8b | 8.2x | 7.8x | 0.9x |
| Wed, 18 Oct 2023 | R463.2b | R450.2b | R53.8b | 8.7x | 8.6x | 1x |
| Fri, 15 Sep 2023 | R433.9b | R451.1b | R55.4b | 6.1x | 7.8x | 1x |
| Sun, 13 Aug 2023 | R504.6b | R478.0b | R99.9b | 4.2x | 5.1x | 1.1x |
| Tue, 11 Jul 2023 | R490.7b | R498.8b | R118.7b | 4.3x | 4.1x | 1x |
| Thu, 08 Jun 2023 | R651.7b | R499.0b | R118.8b | 4.9x | 5.5x | 1.3x |
| Sat, 06 May 2023 | R706.5b | R498.3b | R119.3b | 5.5x | 5.9x | 1.4x |
| Mon, 03 Apr 2023 | R605.3b | R497.7b | R119.0b | 4.5x | 5.1x | 1.2x |
| Wed, 01 Mar 2023 | R636.0b | R503.5b | R119.0b | 5.2x | 5.3x | 1.3x |
| Fri, 27 Jan 2023 | R775.2b | R530.8b | R128.8b | 5.7x | 6x | 1.5x |
| Sun, 25 Dec 2022 | R825.0b | R530.6b | R128.8b | 6.4x | 6.4x | 1.6x |
Price to Earnings Ratio
6.4x
Current Industry PE
- Investors are optimistic on the South African Precious Metals and Minerals industry, and appear confident in long term growth rates.
- The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
- Total earnings for the Precious Metals and Minerals industry have declined over the last three years, with the industry now making a loss overall.
- Revenues have also declined 14% per year, which is driving profits down.
Industry Comparison
How does South African Precious Metals and Minerals compare with similar industries?
| ZA Market | 3.17% | |
| Materials | 5.78% | |
| Metals and Mining | 6.17% | |
| Precious Metals and Minerals | 10.73% | |
| Gold | 2.81% | |
| Diversified Metals and Mining | 2.35% | |
| Steel | 1.07% | |
| Aluminum | -2.17% | |
| Copper | -4.92% | |
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 | R1.38k | 11.0% +R36.0b | 131.0% | PE273.3x | |
| IMP Impala Platinum Holdings | R244.15 | 13.3% +R25.6b | 153.4% | PE287.8x | |
| SSW Sibanye Stillwater | R57.86 | 8.4% +R12.7b | 239.8% | PS1.5x | |
| NPH Northam Platinum Holdings | R323.87 | 8.7% +R9.7b | 220.7% | PE80.6x | |
| THA Tharisa | R22.47 | 10.6% +R630.7m | 40.4% | PE5x |
