Aankondiging • Oct 28
DRDGOLD Limited, Annual General Meeting, Nov 26, 2025 DRDGOLD Limited, Annual General Meeting, Nov 26, 2025. Aankondiging • Sep 26
An undisclosed buyer acquired an unknown minority stake in DRDGOLD Limited (NYSE:DRD) from Van Eck Associates Corporation. An undisclosed buyer acquired an unknown minority stake in DRDGOLD Limited (NYSE:DRD) from Van Eck Associates Corporation on September 26, 2025. Following the acquisition Van Eck Associates Corporation now holds 1.46% of the total issued ordinary share capital of DRDGOLD Limited.
An undisclosed buyer completed the acquisition of an unknown minority stake in DRDGOLD Limited (NYSE:DRD) from Van Eck Associates Corporation on September 26, 2025. Aankondiging • Jun 17
DRDGOLD Limited to Report Fiscal Year 2025 Results on Aug 20, 2025 DRDGOLD Limited announced that they will report fiscal year 2025 results on Aug 20, 2025 Aankondiging • Feb 18
DRDGOLD Limited Declares an Interim Cash Dividend for the Six Months Ended 31 December 2024, Payable on 17 March 2025 The board of DRDGOLD Limited has declared an interim cash dividend of 30 South African (SA) cents per ordinary share for the six months ended 31 December 2024. Ordinary shares trade ex-dividend date is 12 March 2025. Record date is 14 March 2025. Payment date is 17 March 2025. Aankondiging • Feb 12
DRDGOLD Limited Announces Changes to Board Committees, with Effect from 1 March 2025 The board of directors of DRDGOLD Limited announced that DRDGOLD shareholders of the following changes to Board committees with effect from 1 March 2025: Ms. Thoko Mnyango, an independent non-executive director of the Company, will be appointed as a member of the Risk Committee, and will resign as a member of the Remuneration Committee; and Ms. Prudence Lebina, an independent non-executive director of the Company, will be appointed as a member of the Remuneration Committee. Aankondiging • Feb 08
DRDGOLD Limited Provides Earnings Guidance for the Six Months Ended 30 December 2024 DRDGOLD Limited provided earnings guidance for the six months ended 30 December 2024. DRDGOLD is in the process of finalising its results for the six months ended 31 December 2024 ("Current Reporting Period") and shareholders are accordingly advised that the Company has reasonable certainty that for the Current Reporting Period it will report earnings per share and headline earnings per share ("HEPS") of between 109.2 cents and 116.0 cents compared to EPS and HEPS of 68.4 cents for the six months ended 31 December 2023 ("Previous Corresponding Period"), being an increase of between 60% and 70%. Aankondiging • Jan 15
DRDGOLD Limited to Report First Half, 2025 Results on Feb 18, 2025 DRDGOLD Limited announced that they will report first half, 2025 results on Feb 18, 2025 Aankondiging • Nov 30
DRDGOLD Limited Approved Election of Johan Holtzhausen (Chairman) and Prudence Lebina as Members of the Audit Committee DRDGOLD Limited at its AGM held on 27 November 2024 approved election of Mr. Johan Holtzhausen (Chairman) as a member of the Audit Committee and election of Ms. Prudence Lebina as a member of the Audit Committee. Aankondiging • Nov 29
DRDGOLD Limited Announces Change to the Board of Directors and Board Committees DRDGOLD Limited announced that Mr. Andrew Robert Brady has been appointed as an independent non-executive director of the board of directors of the Company with effect from 1 December 2024, to replace Mr. Jean Nel, a former independent non-executive director of the Board who resigned from the Board with effect from 27 November 2024. Mr. Brady was considered following a recommendation by Sibanye Stillwater Limited and after reviewing his suitability for the position, as well as obtaining an independent legal opinion as to whether Mr. Brady would be deemed independent. Mr. Brady will also be appointed as a member of the Company's audit committee, risk committee and investment committee. Mr. Brady is currently a director of Clean World Capital Proprietary Limited and has over 25 years of experience both in the resources sector and corporate finance. He holds a Bachelor of Commerce degree from the University of the Witwatersrand, a Post Graduate Diploma in Business Administration from Wits Business School and has attended a Corporate Restructuring Executive Programme at Harvard Business School. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €8.90, the stock trades at a trailing P/E ratio of 11.7x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total returns to shareholders of 16% over the past three years. Reported Earnings • Nov 05
Full year 2024 earnings released: EPS: R15.43 (vs R14.91 in FY 2023) Full year 2024 results: EPS: R15.43 (up from R14.91 in FY 2023). Revenue: R6.24b (up 14% from FY 2023). Net income: R1.33b (up 3.7% from FY 2023). Profit margin: 21% (down from 23% in FY 2023). The decrease in margin was driven by higher expenses. Production and reserves: Gold Production: 160.82 troy koz (169.82 troy koz in FY 2023) Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Oct 29
DRDGOLD Limited, Annual General Meeting, Nov 27, 2024 DRDGOLD Limited, Annual General Meeting, Nov 27, 2024. Aankondiging • Oct 23
DRDGOLD Limited Announces Board Changes, Effective 27 November 2024 DRDGOLD Limited announced that Mr. Jean Nel, an independent non-executive director of the board of directors of the Company, has decided to step down as a director of the Company with effect from 27 November 2024, after 6 years on the Board. He will consequently vacate his position as chairperson of the remuneration committee and the investment committee, and as a member of the risk committee and the audit committee. Shareholders are further advised that Mr. Edmund Jeneker has been appointed as chairperson of the remuneration committee and Ms Prudence Lebina has been appointed as chairperson of the investment committee with effect from 27 November 2024. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to €11.50, the stock trades at a trailing P/E ratio of 14x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total returns to shareholders of 62% over the past three years. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €8.25, the stock trades at a trailing P/E ratio of 11.1x. Average forward P/E is 8x in the Metals and Mining industry in Europe. Total returns to shareholders of 27% over the past three years. Declared Dividend • Sep 02
Final dividend of US$0.085 announced Shareholders will receive a dividend of US$0.085. Ex-date: 13th September 2024 Payment date: 26th September 2024 Dividend yield will be 2.1%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 67% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 22
Full year 2024 earnings released: EPS: R15.43 (vs R14.91 in FY 2023) Full year 2024 results: EPS: R15.43 (up from R14.91 in FY 2023). Revenue: R6.24b (up 14% from FY 2023). Net income: R1.33b (up 3.7% from FY 2023). Profit margin: 21% (down from 23% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Aankondiging • Aug 22
Drdgold Limited Declares Final Dividend for the Year Ended June 30, 2024, Payable on September 16, 2024 DRDGOLD Limited declared final gross cash dividend for the year ended June 30, 2023 of 20 South African cents per share, payable on September 16, 2024. Ex-dividend is on September 11, 2024 and record date on September 13, 2024. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €7.90, the stock trades at a trailing P/E ratio of 10.7x. Average forward P/E is 7x in the Metals and Mining industry in Europe. Total returns to shareholders of 13% over the past three years. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (35% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.9% average weekly change). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €6.80, the stock trades at a trailing P/E ratio of 9.5x. Average forward P/E is 8x in the Metals and Mining industry in Germany. Total loss to shareholders of 3.3% over the past three years. Buy Or Sell Opportunity • Mar 05
Now 35% overvalued Over the last 90 days, the stock has fallen 16% to €6.80. The fair value is estimated to be €5.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years, while earnings per share has been flat. Upcoming Dividend • Feb 29
Upcoming dividend of US$0.08 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 21 March 2024. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 6.7%. Within top quartile of German dividend payers (5.2%). Higher than average of industry peers (5.9%). Declared Dividend • Feb 26
First half dividend of US$0.08 announced Shareholders will receive a dividend of US$0.08. Ex-date: 7th March 2024 Payment date: 21st March 2024 Dividend yield will be 5.4%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 28% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Feb 19
Now 22% overvalued Over the last 90 days, the stock has fallen 17% to €6.50. The fair value is estimated to be €5.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years, while earnings per share has been flat. Reported Earnings • Feb 19
First half 2024 earnings released: EPS: R6.84 (vs R6.23 in 1H 2023) First half 2024 results: EPS: R6.84 (up from R6.23 in 1H 2023). Revenue: R2.97b (up 12% from 1H 2023). Net income: R589.3m (up 10% from 1H 2023). Profit margin: 20% (in line with 1H 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Aankondiging • Feb 09
DRDGOLD Limited Provides Earnings Guidance for the Six Months Ended 31 December 2023 and Provides Production Guidance for the Year Ended 30 June 2024 DRDGOLD Limited provided earnings guidance for the six months ended 31 December 2023 and provided production guidance for the year ended 30 June 2024. For the six months, the company expects earnings per share (EPS) and headline earnings per share (HEPS) to be between 65.3 cents to 71.5 cents compared to EPS and HEPS of 62.3 cents for the six months ended 31 December 2022, being an increase of between 5% to 15%.For the year, In the company's 2023 integrated annual report, published on 30 October 2023, the company issued a production guidance to be between 165,000 ounces to 175,000 ounces. With the new reclamation sites now in operation at Ergo, the company expects to remain within range, albeit to the lower end. Aankondiging • Jan 17
DRDGOLD Limited to Report First Half, 2024 Results on Feb 14, 2024 DRDGOLD Limited announced that they will report first half, 2024 results on Feb 14, 2024 New Risk • Nov 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Dividend is not well covered by cash flows (143% cash payout ratio). Share price has been volatile over the past 3 months (6.5% average weekly change). Reported Earnings • Nov 02
Full year 2023 earnings released: EPS: R14.91 (vs R13.12 in FY 2022) Full year 2023 results: EPS: R14.91 (up from R13.12 in FY 2022). Revenue: R5.50b (up 7.4% from FY 2022). Net income: R1.28b (up 14% from FY 2022). Profit margin: 23% (up from 22% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Aankondiging • Oct 31
DRDGOLD Limited, Annual General Meeting, Nov 29, 2023 DRDGOLD Limited, Annual General Meeting, Nov 29, 2023, at 10:00 South Africa Standard Time. Agenda: To consider Re-appointment of Independent Auditors; to consider Re-election of Director - Mr Johan Holtzhausen; to consider Re-election of Director - Ms Thoko Mnyango; to consider General authority to issue securities for cash; to consider Endorsement of the Company's Remuneration policy; to consider Authority to sign all required documents; to consider Approval of non-executive directors’ remuneration; to consider General authority to provide financial assistance in n terms of sections 44 and 45 of the Act; and to consider other business matters. Aankondiging • Sep 29
DRDGOLD Limited Announces Company Secretary Changes DRDGOLD Limited announced that Ms Elise Beukes had resigned as DRDGOLD's company secretary with effect from 31 July 2023. The company also announced that Ms. Kgomotso Mbanyele has been appointed as company secretary with effect from 25 October 2023. Ms. Mbanyele has over 14 years' experience working in the Company Secretarial field, with over 11 years' experience working in the mining industry. Ms. Mbanyele previously served as a Company Secretarial officer for Gold Fields Limited and more recently as the Assistant Group Company Secretary of Sibanye Stillwater Limited. She is a qualified Associate Company Secretary with the Chartered Governance Institute of Southern Africa. Upcoming Dividend • Sep 07
Upcoming dividend of US$0.27 per share at 4.5% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 28 September 2023. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (8.8%). Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Non-Executive Chairman Tim Cumming was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Aug 24
DRDGOLD Limited Declares Final Dividend for the Year Ended June 30, 2023, Payable on September 18, 2023 DRDGOLD Limited declared final dividend of 65 South African cents per ordinary share for the year ended June 30, 2023, payable on September 18, 2023. Ex-dividend is on September 13, 2023 and record date on September 15, 2023. New Risk • Aug 23
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risk Dividend is not well covered by cash flows (101% cash payout ratio). New Risk • Aug 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Aankondiging • Aug 18
DRDGOLD Limited Provides Earnings Guidance for the Year Ended June 30, 2023 DRDGOLD Limited provided earnings guidance for the year ended June 30, 2023. For the period, the company expects earnings per share ("EPS") of between 142.5 cents and 155.7 cents per share compared to EPS of 131.2 cents per share for the year ended 30 June 2022, being an increase of between 9% and 19%. Aankondiging • Aug 15
DRDGOLD Limited to Report Fiscal Year 2023 Results on Aug 23, 2023 DRDGOLD Limited announced that they will report fiscal year 2023 results at 8:00 AM, South Africa Standard Time on Aug 23, 2023 Aankondiging • Aug 02
DRDGOLD Limited Announces Resignation of Elise Beukes as Company Secretary DRDGOLD Limited advised that Ms Elise Beukes has resigned as the company secretary with effect from 31 July 2023. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €11.40, the stock trades at a trailing P/E ratio of 17.4x. Average forward P/E is 7x in the Metals and Mining industry in Germany. Total returns to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €7.75, the stock trades at a trailing P/E ratio of 12x. Average forward P/E is 7x in the Metals and Mining industry in Germany. Total returns to shareholders of 55% over the past three years. Upcoming Dividend • Mar 02
Upcoming dividend of US$0.083 per share at 4.4% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 23 March 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.2%). Reported Earnings • Feb 17
First half 2023 earnings released First half 2023 results: Revenue: R2.65b (up 6.2% from 1H 2022). Net income: R535.0m (up 7.9% from 1H 2022). Profit margin: 20% (in line with 1H 2022). Revenue is expected to fall by 2.1% p.a. on average during the next 3 years compared to a 1.6% decline forecast for the Metals and Mining industry in Europe. Aankondiging • Feb 16
DRDGOLD Limited Declares an Interim Cash Dividend for the Six Months Ended 31 December 2022, Payable on 13 March 2023 DRDGOLD Limited announced that Board has declared an interim cash dividend of 20 south African cents per share for the six months ended 31 December 2022. In compliance with the requirements of Strate Proprietary Limited ("Strate") and the JSE Limited Listings Requirements, given the Company's primary listing on the exchange operated by the JSE, the salient dates for payment of the dividend are as follows: last date to trade ordinary shares cum-dividend: 7 March 2023; ordinary shares trade ex-dividend: 8 March 2023; record date: 10 March 2023; and payment date: Monday, 13 March 2023. Aankondiging • Feb 03
DRDGOLD Limited Provides Earnings Guidance for the Six Months Ended December 31, 2022 DRDGOLD Limited provided earnings guidance for the six months ended December 31, 2022. The Company has reasonable certainty that for the Current Reporting Period it will report earnings per share ("EPS") and headline earnings per share ("HEPS") of between 59.5 cents and 68.1 cents per share compared to EPS and HEPS of 58.0 cents per share for the six months ended 31 December 2021 ("Previous Corresponding Period"), being an increase of between 2.6% and 17.4%. Aankondiging • Jan 17
DRDGOLD Limited to Report First Half, 2023 Results on Feb 15, 2023 DRDGOLD Limited announced that they will report first half, 2023 results on Feb 15, 2023 Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 16% share price gain to €7.75, the stock trades at a trailing P/E ratio of 11.2x. Average forward P/E is 7x in the Metals and Mining industry in Germany. Total returns to shareholders of 88% over the past three years. Reported Earnings • Nov 03
Full year 2022 earnings released: EPS: R13.12 (vs R16.84 in FY 2021) Full year 2022 results: EPS: R13.12 (down from R16.84 in FY 2021). Revenue: R5.12b (down 2.9% from FY 2021). Net income: R1.12b (down 22% from FY 2021). Profit margin: 22% (down from 27% in FY 2021). The decrease in margin was primarily driven by higher expenses. Production and reserves: Gold Production: 183.9 troy koz (184 troy koz in FY 2021) Proved and probable reserves (ore): 622.4 Mt (518.1 Mt in FY 2021) Number of mines: 2 (2 in FY 2021) Revenue is forecast to stay flat during the next 3 years compared to a 3.3% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improved over the past week After last week's 15% share price gain to €5.75, the stock trades at a trailing P/E ratio of 8.5x. Average forward P/E is 4x in the Metals and Mining industry in Germany. Total returns to shareholders of 52% over the past three years. Upcoming Dividend • Sep 15
Upcoming dividend of US$0.18 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 06 October 2022. Payout ratio is a comfortable 52% and the cash payout ratio is 84%. Trailing yield: 5.9%. Within top quartile of German dividend payers (4.9%). Lower than average of industry peers (10%). Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €6.25, the stock trades at a trailing P/E ratio of 9.2x. Average forward P/E is 4x in the Metals and Mining industry in Germany. Total returns to shareholders of 350% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.72 per share. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improved over the past week After last week's 15% share price gain to €9.10, the stock trades at a trailing P/E ratio of 13.8x. Average forward P/E is 6x in the Metals and Mining industry in Germany. Total returns to shareholders of 469% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.49 per share. Upcoming Dividend • Mar 03
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 10 March 2022. Payment date: 24 March 2022. Payout ratio is a comfortable 52% and the cash payout ratio is 84%. Trailing yield: 4.0%. Within top quartile of German dividend payers (3.4%). Lower than average of industry peers (8.8%). Reported Earnings • Feb 19
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: EPS: R5.80 (down from R11.10 in 1H 2021). Revenue: R2.50b (down 16% from 1H 2021). Net income: R495.9m (down 48% from 1H 2021). Profit margin: 20% (down from 32% in 1H 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 11%, compared to a 12% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 57% per year, which means it is significantly lagging earnings growth. Executive Departure • Dec 03
Independent Non-Executive Chairman Geoffrey Campbell has left the company On the 1st of December, Geoffrey Campbell's tenure as Independent Non-Executive Chairman ended after 16.2 years in the role. We don't have any record of a personal shareholding under Geoffrey's name. Geoffrey is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.13 years. Reported Earnings • Aug 26
Full year 2021 earnings released: EPS R16.84 (vs R8.25 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: R5.27b (up 26% from FY 2020). Net income: R1.44b (up 127% from FY 2020). Profit margin: 27% (up from 15% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to R8.95, the stock trades at a trailing P/E ratio of 10.7x. Average forward P/E is 8x in the Metals and Mining industry in Europe. Total returns to shareholders of 319% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 18% share price gain to R9.90, the stock trades at a trailing P/E ratio of 11.7x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total returns to shareholders of 405% over the past three years. Upcoming Dividend • Feb 25
Upcoming Dividend of US$0.21 Per Share Will be paid on the 18th of March to those who are registered shareholders by the 4th of March. The trailing yield of 7.0% is in the top quartile of German dividend payers (3.4%), and it is higher than industry peers (4.5%). Reported Earnings • Feb 20
First half 2021 earnings released: EPS R11.10 (vs R4.85 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: R2.98b (up 41% from 1H 2020). Net income: R949.4m (up 185% from 1H 2020). Profit margin: 32% (up from 16% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 19
New 90-day low: €7.75 The company is down 11% from its price of €8.75 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 62% over the same period. Is New 90 Day High Low • Nov 16
New 90-day low: €9.10 The company is down 28% from its price of €12.60 on 18 August 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 1.0% over the same period. Valuation Update With 7 Day Price Move • Nov 13
Market pulls back on stock over the past week After last week's 18% share price decline to R9.15, the stock is trading at a trailing P/E ratio of 20.8x, down from the previous P/E ratio of 25.5x. This compares to an average P/E of 13x in the Metals and Mining industry in Europe. Total returns to shareholders over the past three years are 213%. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 22% share price gain to R11.20, the stock is trading at a trailing P/E ratio of 24.7x, up from the previous P/E ratio of 20.2x. This compares to an average P/E of 13x in the Metals and Mining industry in Europe. Total returns to shareholders over the past three years are 291%. Is New 90 Day High Low • Oct 07
New 90-day low: €9.15 The company is down 39% from its price of €14.90 on 09 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 4.0% over the same period. Is New 90 Day High Low • Sep 18
New 90-day low: €10.90 The company is down 1.0% from its price of €11.00 on 19 June 2020. The German market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 17% over the same period. 
