TSX:ATL

Stock Analysis Report

Atlatsa Resources

Executive Summary

Atlatsa Resources Corporation, together with its subsidiaries, engages in the exploration and mining of platinum group metal properties in the Republic of South Africa.


Snowflake Analysis

Weak fundamentals or lack of information.

Share Price & News

How has Atlatsa Resources's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ATL has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

ATL

-5.1%

CA Metals and Mining

4.5%

CA Market


1 Year Return

125.0%

ATL

-10.8%

CA Metals and Mining

-24.5%

CA Market

Return vs Industry: ATL exceeded the Canadian Metals and Mining industry which returned 26.9% over the past year.

Return vs Market: ATL exceeded the Canadian Market which returned 10.4% over the past year.


Shareholder returns

ATLIndustryMarket
7 Day0%-5.1%4.5%
30 Day12.5%-9.2%-20.1%
90 Day12.5%-17.5%-24.9%
1 Year125.0%125.0%-10.1%-10.8%-22.0%-24.5%
3 Year-10.0%-10.0%-18.6%-20.1%-14.2%-22.2%
5 Year-72.7%-72.7%4.7%1.7%-1.9%-16.5%

Price Volatility Vs. Market

How volatile is Atlatsa Resources's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Atlatsa Resources undervalued compared to its fair value and its price relative to the market?


In this section, we usually try to help investors determine whether Atlatsa Resources is trading at an attractive price based on the cash flow it is expected to produce in the future. But as Atlatsa Resources has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis.


Next Steps

  • Take a look at our analysis of ATL’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • When valuing a company like this, investors focus more on how they perceive the potential returns from the core activities, the size of each contract's opportunity, and the capacity of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through Atlatsa Resources regulatory filings.
  • Explore potentially undervalued companies in the Materials industry.

Future Growth

How is Atlatsa Resources forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.3%

Forecasted Materials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Atlatsa Resources has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Atlatsa Resources performed over the past 5 years?

-30.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ATL is currently unprofitable.

Growing Profit Margin: ATL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ATL is unprofitable, and losses have increased over the past 5 years at a rate of -30% per year.

Accelerating Growth: Unable to compare ATL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ATL is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-1.4%).


Return on Equity

High ROE: ATL's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Next Steps

Financial Health

How is Atlatsa Resources's financial position?


Financial Position Analysis

Short Term Liabilities: ATL has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: ATL has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: ATL has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: ATL's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet

Inventory Level: ATL has a high level of physical assets or inventory.

Debt Coverage by Assets: ATL has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: ATL has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: ATL has less than a year of cash runway if free cash flow continues to grow at historical rates of 22.6% each year.


Next Steps

Dividend

What is Atlatsa Resources's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ATL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ATL's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ATL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ATL's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ATL's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

8.4yrs

Average management tenure


CEO

Harold Motaung

8.42s

Tenure

CA$632,598

Compensation

Mr. Asna Harold Chris Motaung, also known as Harold, B.Sc., MBA has been the Chief Executive Officer and President of Atlatsa Resources Corporation (alternate name: Anooraq Resources Corporation) since Apr ...


CEO Compensation Analysis

Compensation vs Market: Harold's total compensation ($USD477.00K) is above average for companies of similar size in the Canadian market ($USD165.67K).

Compensation vs Earnings: Harold's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Tumelo Motsisi
Executive Chairman15yrsCA$681.22k0.15% CA$73.4k
Asna Harold Motaung
President8.42yrsCA$632.60k0.024% CA$11.7k
Shireen Stow
Interim Chief Financial Officer1.58yrsCA$165.59kno data
Kenneth Mbewe
Senior Manager of HR Operationsno dataCA$202.23kno data
Joel Kesler
Chief Commercial Officer & Executive Director5.25yrsCA$550.44k0.17% CA$86.3k
Scott Cousens
Vice President of Capital Financeno dataCA$321.73kno data

8.4yrs

Average Tenure

Experienced Management: ATL's management team is seasoned and experienced (8.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Tumelo Motsisi
Executive Chairman15yrsCA$681.22k0.15% CA$73.4k
Asna Harold Motaung
President8.42yrsCA$632.60k0.024% CA$11.7k
Joel Kesler
Chief Commercial Officer & Executive Director5.25yrsCA$550.44k0.17% CA$86.3k
Fikile Felicity De Buck
Independent Non-Executive Director11yrsCA$74.00kno data
Bongiwe Ntuli
Independent Non-Executive Director5.33yrsCA$68.00kno data
Andile Mabizela
Independent Non-Executive Director5.33yrsCA$75.00kno data
Colin Clarke
Lead Independent Non-Executive Director4.75yrsCA$84.00kno data

5.3yrs

Average Tenure

49yo

Average Age

Experienced Board: ATL's board of directors are considered experienced (5.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Atlatsa Resources Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Atlatsa Resources Corporation
  • Ticker: ATL
  • Exchange: TSX
  • Founded: 1983
  • Industry: Precious Metals and Minerals
  • Sector: Materials
  • Market Cap: CA$49.493m
  • Shares outstanding: 549.92m
  • Website: https://www.atlatsaresources.co.za

Number of Employees


Location

  • Atlatsa Resources Corporation
  • North Wing – The Business Exchange
  • 2nd Floor
  • Johannesburg
  • Gauteng
  • 2146
  • South Africa

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ATLTSX (The Toronto Stock Exchange)YesCommon SharesCACADAug 2002
ATLJSE (The Johannesburg Securities Exchange)YesCommon SharesZAZARAug 2002

Biography

Atlatsa Resources Corporation, together with its subsidiaries, engages in the exploration and mining of platinum group metal properties in the Republic of South Africa. The company was formerly known as Anooraq Resources Corporation and changed its name to Atlatsa Resources Corporation in May 2012. The company was incorporated in 1983 and is headquartered in Johannesburg, South Africa. Atlatsa Resources Corporation is a subsidiary of Atlatsa Holdings Proprietary Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/20 23:31
End of Day Share Price2019/09/09 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.