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Polymetal International

MISX:POLY
Snowflake Description

Reasonable growth potential with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
POLY
MISX
£4B
Market Cap
  1. Home
  2. RU
  3. Materials
Company description

Polymetal International plc operates as a precious metals mining company in Russia, Kazakhstan, East Asia, and Europe. The last earnings update was 30 days ago. More info.


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POLY Share Price and Events
7 Day Returns
-1.1%
MISX:POLY
0.8%
RU Metals and Mining
-0.1%
RU Market
1 Year Returns
13.3%
MISX:POLY
-1.6%
RU Metals and Mining
7.9%
RU Market
POLY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Polymetal International (POLY) -1.1% -7.2% -6.2% 13.3% 0.5% 93.8%
RU Metals and Mining 0.8% -0.5% -3.6% -1.6% 37.9% 211.1%
RU Market -0.1% 1.1% 3.1% 7.9% 29.6% 100.8%
1 Year Return vs Industry and Market
  • POLY outperformed the Metals and Mining industry which returned -1.6% over the past year.
  • POLY outperformed the Market in Russian Federation which returned 7.9% over the past year.
Price Volatility
POLY
Industry
5yr Volatility vs Market

Value

 Is Polymetal International undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Polymetal International to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Polymetal International.

MISX:POLY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 17 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 20.9%
Perpetual Growth Rate 10-Year RU Government Bond Rate 8.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for MISX:POLY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year RU Govt Bond Rate 8.4%
Equity Risk Premium S&P Global 9.4%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.13
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.133 (1 + (1- 20%) (38.11%))
1.32
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.32
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (1.32 * 9.43%)
20.89%

Discounted Cash Flow Calculation for MISX:POLY using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Polymetal International is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

MISX:POLY DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 20.89%)
2019 365.88 Analyst x9 302.66
2020 372.92 Analyst x9 255.18
2021 394.20 Analyst x8 223.13
2022 537.97 Analyst x3 251.89
2023 715.50 Analyst x2 277.13
2024 849.85 Est @ 18.78% 272.28
2025 983.07 Est @ 15.68% 260.54
2026 1,115.83 Est @ 13.5% 244.63
2027 1,249.57 Est @ 11.99% 226.61
2028 1,386.04 Est @ 10.92% 207.93
Present value of next 10 years cash flows $2,521.96
MISX:POLY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,386.04 × (1 + 8.44%) ÷ (20.89% – 8.44%)
$12,073.46
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $12,073.46 ÷ (1 + 20.89%)10
$1,811.19
MISX:POLY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,521.96 + $1,811.19
$4,333.16
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $4,333.16 / 469.51
$0.11
MISX:POLY Discount to Share Price
Calculation Result
Exchange Rate USD/GBP
(Reporting currency to currency of LSE:POLY)
0.769
Value per Share
(GBP)
= Value per Share in USD x Exchange Rate (USD/GBP)
= $9.23 x 0.769
£7.1
Non-primary Listing Adjustment Factor 1 share in MISX:POLY represents 83.33333x of LSE:POLY
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
83.33333x
Value per Share
(Listing Adjusted, RUB)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 7.10 x 83.33333
RUB591.63
Value per share (RUB) From above. RUB591.63
Current discount Discount to share price of RUB680.20
= -1 x (RUB680.20 - RUB591.63) / RUB591.63
-15%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Polymetal International is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Polymetal International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Polymetal International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MISX:POLY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.78
LSE:POLY Share Price ** LSE (2019-04-19) in GBP £8.16
LSE:POLY Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.3 $10.61
Russian Federation Metals and Mining Industry PE Ratio Median Figure of 19 Publicly-Listed Metals and Mining Companies 4.54x
Russian Federation Market PE Ratio Median Figure of 129 Publicly-Listed Companies 7.37x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Polymetal International.

MISX:POLY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:POLY Share Price ÷ EPS (both in USD)

= 10.61 ÷ 0.78

13.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Polymetal International is overvalued based on earnings compared to the RU Metals and Mining industry average.
  • Polymetal International is overvalued based on earnings compared to the Russian Federation market.
Price based on expected Growth
Does Polymetal International's expected growth come at a high price?
Raw Data
MISX:POLY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
10.5%per year
Europe Metals and Mining Industry PEG Ratio Median Figure of 61 Publicly-Listed Metals and Mining Companies 0.66x
Russian Federation Market PEG Ratio Median Figure of 33 Publicly-Listed Companies 0.5x

*Line of best fit is calculated by linear regression .

MISX:POLY PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.54x ÷ 10.5%

1.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Polymetal International is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Polymetal International's assets?
Raw Data
MISX:POLY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $2.94
LSE:POLY Share Price * LSE (2019-04-19) in GBP £8.16
LSE:POLY Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.3 $10.61
Russian Federation Metals and Mining Industry PB Ratio Median Figure of 20 Publicly-Listed Metals and Mining Companies 0.41x
Russian Federation Market PB Ratio Median Figure of 149 Publicly-Listed Companies 0.82x
MISX:POLY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:POLY Share Price ÷ Book Value per Share (both in USD)

= 10.61 ÷ 2.94

3.61x

* Primary Listing of Polymetal International.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Polymetal International is overvalued based on assets compared to the RU Metals and Mining industry average.
X
Value checks
We assess Polymetal International's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Polymetal International has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Polymetal International expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Polymetal International expected to grow at an attractive rate?
  • Polymetal International's earnings growth is expected to exceed the low risk savings rate of 8.4%.
Growth vs Market Checks
  • Polymetal International's earnings growth is expected to exceed the Russian Federation market average.
  • Polymetal International's revenue growth is expected to exceed the Russian Federation market average.
Annual Growth Rates Comparison
Raw Data
MISX:POLY Future Growth Rates Data Sources
Data Point Source Value (per year)
MISX:POLY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 10.5%
MISX:POLY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 7.5%
Russian Federation Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average -1.8%
Europe Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Russian Federation Market Earnings Growth Rate Market Cap Weighted Average 3.6%
Russian Federation Market Revenue Growth Rate Market Cap Weighted Average 4.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
MISX:POLY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MISX:POLY Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 2,846 879 638 1
2022-12-31 2,456 800 592 3
2021-12-31 2,164 776 532 12
2020-12-31 2,130 818 519 17
2019-12-31 2,042 717 488 16
MISX:POLY Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,706 513 352
2018-06-30 1,921 591 409
2018-03-31 1,868 562 382
2017-12-31 1,607 533 304
2017-09-30 1,744 517 352
2017-06-30 1,673 500 350
2017-03-31 1,628 515 373
2016-12-31 1,583 530 395
2016-09-30 1,484 455 341
2016-06-30 1,386 381 288
2016-03-31 1,413 436 254

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Polymetal International's earnings are expected to grow by 10.5% yearly, however this is not considered high growth (20% yearly).
  • Polymetal International's revenue is expected to grow by 7.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
MISX:POLY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Polymetal International Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:POLY Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.46 1.55 1.36 2.00
2022-12-31 1.41 1.59 1.16 3.00
2021-12-31 1.30 1.85 1.05 8.00
2020-12-31 1.18 1.56 0.85 12.00
2019-12-31 1.06 1.36 0.85 13.00
MISX:POLY Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.78
2018-06-30 0.94
2018-03-31 0.88
2017-12-31 0.71
2017-09-30 0.82
2017-06-30 0.82
2017-03-31 0.87
2016-12-31 0.93
2016-09-30 0.80
2016-06-30 0.68
2016-03-31 0.60

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Polymetal International is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Polymetal International's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Russian Federation market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Polymetal International has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Polymetal International performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Polymetal International's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Polymetal International has delivered over 20% year on year earnings growth in the past 5 years.
  • Polymetal International's 1-year earnings growth is less than its 5-year average (15.8% vs 50.1%)
  • Polymetal International's earnings growth has exceeded the RU Metals and Mining industry average in the past year (15.8% vs -2.7%).
Earnings and Revenue History
Polymetal International's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Polymetal International Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:POLY Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,706.00 352.00 176.00
2018-06-30 1,921.00 409.00 183.00
2018-03-31 1,868.00 381.50 178.50
2017-12-31 1,607.00 304.00 162.00
2017-09-30 1,744.00 352.00 164.00
2017-06-30 1,673.00 350.00 154.00
2017-03-31 1,628.00 372.50 141.50
2016-12-31 1,583.00 395.00 129.00
2016-09-30 1,484.49 341.49 131.76
2016-06-30 1,385.99 287.98 134.51
2016-03-31 1,413.49 254.49 138.76
2015-12-31 1,441.00 221.00 143.00
2015-09-30 1,526.27 4.45 144.01
2015-06-30 1,611.54 -212.09 145.01
2015-03-31 1,650.96 -210.97 145.62
2014-12-31 1,690.39 -209.84 146.22
2014-09-30 1,701.29 -26.13 146.19
2014-06-30 1,712.18 157.59 146.16
2014-03-31 1,709.39 -20.23 169.22
2013-12-31 1,706.60 -198.04 192.28
2013-09-30 1,757.23 -91.00 208.94
2013-06-30 1,807.87 16.04 225.60
2013-03-31 1,830.97 218.62 216.25
2012-12-31 1,854.07 421.20 206.90
2012-09-30 1,701.73 354.60 204.21
2012-06-30 1,549.40 288.01 201.52

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Polymetal International has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Polymetal International used its assets more efficiently than the RU Metals and Mining industry average last year based on Return on Assets.
  • Polymetal International's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Polymetal International's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Polymetal International has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Polymetal International's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Polymetal International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Polymetal International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Polymetal International's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Polymetal International's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Polymetal International Company Filings, last reported 3 months ago.

MISX:POLY Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,397.00 1,899.00 379.00
2018-06-30 1,366.00 1,690.00 38.00
2018-03-31 1,366.00 1,690.00 38.00
2017-12-31 1,307.00 1,456.00 36.00
2017-09-30 1,307.00 1,456.00 36.00
2017-06-30 1,092.00 1,622.00 40.00
2017-03-31 1,092.00 1,622.00 40.00
2016-12-31 981.00 1,378.00 48.00
2016-09-30 981.00 1,378.00 48.00
2016-06-30 732.08 1,454.00 18.43
2016-03-31 732.08 1,454.00 18.43
2015-12-31 487.00 1,350.00 52.00
2015-09-30 487.00 1,350.00 52.00
2015-06-30 935.04 1,382.53 151.28
2015-03-31 935.04 1,382.53 151.28
2014-12-31 869.48 1,322.64 157.22
2014-09-30 869.48 1,322.64 157.22
2014-06-30 1,789.12 1,054.56 15.93
2014-03-31 1,789.12 1,054.56 15.93
2013-12-31 1,787.49 1,111.14 65.57
2013-09-30 1,787.49 1,111.14 65.57
2013-06-30 1,735.13 1,316.58 21.26
2013-03-31 1,735.13 1,316.58 21.26
2012-12-31 2,151.87 863.82 18.62
2012-09-30 2,151.87 863.82 18.62
2012-06-30 1,870.77 1,029.84 25.84
  • Polymetal International's level of debt (135.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (62.1% vs 135.9% today).
  • Debt is well covered by operating cash flow (27%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 9.2x coverage).
X
Financial health checks
We assess Polymetal International's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Polymetal International has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Polymetal International's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.52%
Current annual income from Polymetal International dividends. Estimated to be 5.5% next year.
If you bought RUB2,000 of Polymetal International shares you are expected to receive RUB90 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Polymetal International's pays a higher dividend yield than the bottom 25% of dividend payers in Russian Federation (3.26%).
  • Polymetal International's dividend is below the markets top 25% of dividend payers in Russian Federation (9.04%).
Upcoming dividend payment

Purchase Polymetal International before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
MISX:POLY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
Europe Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 65 Stocks 5.7%
Russian Federation Market Average Dividend Yield Market Cap Weighted Average of 75 Stocks 6.8%
Russian Federation Minimum Threshold Dividend Yield 10th Percentile 1.6%
Russian Federation Bottom 25% Dividend Yield 25th Percentile 3.3%
Russian Federation Top 25% Dividend Yield 75th Percentile 9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

MISX:POLY Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.79 1.00
2021-12-31 0.61 10.00
2020-12-31 0.59 15.00
2019-12-31 0.55 16.00
MISX:POLY Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-11 0.480 4.319
2018-08-21 0.470 4.853
2018-03-12 0.440 4.779
2017-08-29 0.470 4.074
2017-03-15 0.420 3.399
2016-08-24 0.520 4.620
2015-12-03 0.510 4.927
2015-08-25 0.210 2.505
2014-12-04 0.210 2.535
2014-08-27 0.090 1.089
2014-03-31 0.160 1.705
2013-08-28 0.020 0.208
2013-04-08 0.310 3.138
2012-04-25 0.200 1.299
2012-04-24 0.200 1.312

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Polymetal International has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Polymetal International only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Polymetal International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Polymetal International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Polymetal International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Polymetal International has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Polymetal International's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Vitaly Nesis
COMPENSATION $1,024,523
AGE 42
TENURE AS CEO 7.6 years
CEO Bio

Mr. Vitaly N. Nesis has been Group Chief Executive Officer of Polymetal International Plc since December 1, 2014. Mr. Nesis served as the Chief Executive Officer of Joint Stock Company Polymetal since 2003 and served as its Member of the Management Board. From 2002 to 2003, he served as Chief Executive Officer of Vostsibugol. Mr. Nesis served as Chief Executive Officer at Polymetal International Plc since September 2011. He served as the General Manager of JSC, Vostsibugol (Irkutsk). He served as an Analyst in Merrill Lynch (USA) from 1997 to 1999. He served in the Moscow representation of McKinsey & Company office in Moscow from 1999 to 2000. From 2001 to 2002, he served as the Director/Head of the Investment Planning Department at SUAL Holding. He served as Strategic Development Director of JSC Ulyanovsk Car Factory, UAZ/Ulyanovsk Automobile Plant from 2000 to 2001. Mr. Nesis has been an Executive Director of Polymetal International Plc since September 29, 2011. He served as an Executive Director at Joint Stock Company Polymetal from June 2004 to 2012. Mr. Nesis graduated from Yale University in 1997 with a BA in Economics and received an MA in Mining Economics from St. Petersburg Mining Institute.

CEO Compensation
  • Vitaly's compensation has increased by more than 20% in the past year.
  • Insufficient data for Vitaly to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Polymetal International management team in years:

7.6
Average Tenure
49
Average Age
  • The average tenure for the Polymetal International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Vitaly Nesis

TITLE
Group CEO & Executive Director
COMPENSATION
$1M
AGE
42
TENURE
7.6 yrs

Maxim Nazimok

TITLE
Chief Financial Officer
AGE
36
TENURE
2.3 yrs

Vitaly Savchenko

TITLE
Chief Operating Officer
TENURE
10.3 yrs

Evgenia Onuschenko

TITLE
Director of Corporate Finance
TENURE
10.3 yrs

Igor Agapov

TITLE
Deputy Director of Science & Technology

Igor Kapshuk

TITLE
Chief Legal Officer
TENURE
4 yrs

Dmitry Razumov

TITLE
Deputy Chief Executive Officer of Human Resources
TENURE
4 yrs

Valery Tsyplakov

TITLE
Managing Director of JSC Polymetal Engineering
AGE
63
TENURE
15.3 yrs

Sergey Cherkashin

TITLE
Executive Vice President of Business Performance
AGE
56
TENURE
2.3 yrs

Pavel Danilin

TITLE
Deputy Chief Executive Officer of Strategic Development
TENURE
10.3 yrs
Board of Directors Tenure

Average tenure and age of the Polymetal International board of directors in years:

7.6
Average Tenure
53
Average Age
  • The tenure for the Polymetal International board of directors is about average.
Board of Directors

Bobby Godsell

TITLE
Chairman of the Board
COMPENSATION
$366K
AGE
65
TENURE
7.6 yrs

Vitaly Nesis

TITLE
Group CEO & Executive Director
COMPENSATION
$1M
AGE
42
TENURE
7.6 yrs

Jonathan Best

TITLE
Independent Non-Executive Director
COMPENSATION
$219K
AGE
69
TENURE
7.6 yrs

Christine Coignard

TITLE
Independent Non-Executive Director
COMPENSATION
$221K
AGE
54
TENURE
4.8 yrs

Tracey Kerr

TITLE
Independent Non-Executive Director
COMPENSATION
$196K
TENURE
1.3 yrs

Ollie Oliveira De Sousa-Oliveira

TITLE
Senior Independent Non-Executive Director
COMPENSATION
$140K
AGE
66
TENURE
1 yrs

Konstantin Yanakov

TITLE
Non-Executive Director
AGE
41
TENURE
7.6 yrs

Jean-Pascal Duvieusart

TITLE
Non-Executive Director
AGE
52
TENURE
7.6 yrs

Giacomo Baizini

TITLE
Independent Non-Executive Director
COMPENSATION
$207K
AGE
48
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (RUB) Value (RUB)
X
Management checks
We assess Polymetal International's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Polymetal International has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Polymetal International plc operates as a precious metals mining company in Russia, Kazakhstan, East Asia, and Europe. The company operates in four segments: Magadan, Ural, Khabarovsk, and Kazakhstan. It is involved in the exploration, extraction, processing, reclamation, and other related activities of gold, silver, copper, zinc, and platinum group metals. The company’s flagship project is the Kyzyl project located in the East Kazakhstan region, Kazakhstan. Polymetal International plc was founded in 1998 and is headquartered in Saint Petersburg, Russia.

Details
Name: Polymetal International plc
POLY
Exchange: MISX
Founded: 1998
£319,143,223,085
469,506,028
Website: http://www.polymetalinternational.com
Address: Polymetal International plc
2 Prospect Narodnogo Opolcheniya,
Office 1063,
Saint Petersburg,
198216,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE POLY Ordinary Shares London Stock Exchange GB GBP 28. Oct 2011
OTCPK POYY.F Ordinary Shares Pink Sheets LLC US USD 28. Oct 2011
MUN PM6 Ordinary Shares Boerse Muenchen DE EUR 28. Oct 2011
MISX POLY Ordinary Shares Micex - Rts RU RUB 28. Oct 2011
BATS-CHIXE POLYL Ordinary Shares BATS 'Chi-X Europe' GB GBP 28. Oct 2011
OTCPK AUCO.Y SPONSORED ADR Pink Sheets LLC US USD 28. Aug 2013
Number of employees
Current staff
Staff numbers
11,290
Polymetal International employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 21:34
End of day share price update: 2019/04/19 00:00
Last estimates confirmation: 2019/04/19
Last earnings filing: 2019/03/21
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.