Exxaro Resources (EXX) Stock Overview
Engages in coal, pigment manufacturing, and renewable energy businesses in South Africa, Europe, Asia, and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 1/6 |
| Past Performance | 1/6 |
| Financial Health | 6/6 |
| Dividends | 4/6 |
EXX Community Fair Values
Create NarrativeSee what 54 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Exxaro Resources Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | R213.91 |
| 52 Week High | R227.95 |
| 52 Week Low | R144.00 |
| Beta | 0.091 |
| 1 Month Change | 2.40% |
| 3 Month Change | 8.14% |
| 1 Year Change | 45.81% |
| 3 Year Change | 31.22% |
| 5 Year Change | 33.74% |
| Change since IPO | 642.74% |
Recent News & Updates
Narrative Update • May 19
EXX: Steady Outlook Will Highlight Proposed ZAR10 Final Dividend As Key Upside Driver
Analysts have kept their ZAR price target for Exxaro Resources broadly steady around ZAR256.40, with minor tweaks to inputs such as the discount rate and assumed future P/E, indicating only a small refinement to their valuation approach rather than a material shift in outlook. What's in the News The board plans to meet on March 17, 2026, to consider and approve a proposed gross final dividend of ZAR 10.00 per share for Exxaro Resources Limited (Key Developments).Narrative Update • May 03
EXX: Stable Outlook Will Highlight Proposed ZAR10 Final Dividend As Key Upside Catalyst
Analysts have kept their ZAR256.40 price target for Exxaro Resources unchanged, citing steady assumptions around fair value, discount rate, revenue growth, profit margin and future P/E as the basis for maintaining their view. What's in the News A board meeting is scheduled for 17 March 2026 to consider and approve a proposed gross final dividend of 1,000 cents per share for Exxaro Resources Limited (Key Developments).Narrative Update • Apr 19
EXX: Higher Fair Value Will Reflect Pending ZAR10 Dividend Decision
Analysts now place Exxaro Resources' fair value at ZAR256.40, up from ZAR218.20, reflecting updated views on slightly higher long term revenue growth, profit margins, and a revised future P/E assumption. What's in the News A board meeting is scheduled for March 17, 2026, with an agenda item to approve a proposed gross final dividend of ZAR10.00 per share (Key Developments).Recent updates
Narrative Update • May 19
EXX: Steady Outlook Will Highlight Proposed ZAR10 Final Dividend As Key Upside Driver
Analysts have kept their ZAR price target for Exxaro Resources broadly steady around ZAR256.40, with minor tweaks to inputs such as the discount rate and assumed future P/E, indicating only a small refinement to their valuation approach rather than a material shift in outlook. What's in the News The board plans to meet on March 17, 2026, to consider and approve a proposed gross final dividend of ZAR 10.00 per share for Exxaro Resources Limited (Key Developments).Narrative Update • May 03
EXX: Stable Outlook Will Highlight Proposed ZAR10 Final Dividend As Key Upside Catalyst
Analysts have kept their ZAR256.40 price target for Exxaro Resources unchanged, citing steady assumptions around fair value, discount rate, revenue growth, profit margin and future P/E as the basis for maintaining their view. What's in the News A board meeting is scheduled for 17 March 2026 to consider and approve a proposed gross final dividend of 1,000 cents per share for Exxaro Resources Limited (Key Developments).Narrative Update • Apr 19
EXX: Higher Fair Value Will Reflect Pending ZAR10 Dividend Decision
Analysts now place Exxaro Resources' fair value at ZAR256.40, up from ZAR218.20, reflecting updated views on slightly higher long term revenue growth, profit margins, and a revised future P/E assumption. What's in the News A board meeting is scheduled for March 17, 2026, with an agenda item to approve a proposed gross final dividend of ZAR10.00 per share (Key Developments).
Narrative Update • Apr 05
EXX: Higher Future P E And Dividend Outlook Will Support Upside
Analysts have raised their price target for Exxaro Resources from ZAR240.00 to ZAR260.00, citing updated assumptions that include adjusted revenue growth, profit margin and future P/E expectations. What's in the News A board meeting is scheduled for March 17, 2026, to consider the approval of a gross final dividend of ZAR 10.00 per share (Key Developments).Narrative Update • Mar 21
EXX: Fair Value Will Reflect Higher Revenue Outlook And Pending Dividend Decision
Analysts have nudged their ZAR fair value estimate for Exxaro Resources slightly higher from ZAR215.67 to ZAR218.20, reflecting updated assumptions around revenue growth, profit margins and a lower forward P/E multiple. What's in the News A board meeting is scheduled for Mar 17, 2026, to consider approval of a gross final dividend of ZAR10.00 per share.
Narrative Update • Mar 07
EXX: Higher Margin Assumptions Will Likely Offset Lower Future P/E Multiple
Analysts have lifted their ZAR fair value estimate for Exxaro Resources from ZAR149.44 to ZAR195.00, citing updated assumptions for revenue growth, profit margins and a lower forward P/E as key drivers of the higher price target. Valuation Changes Fair Value: ZAR149.44 updated to ZAR195.00, reflecting a higher assessed valuation for Exxaro Resources.Narrative Update • Feb 21
EXX: Higher P/E Assumptions Will Support Value Despite Lower Production Guidance
Analysts have inched up their ZAR 215.66 price target on Exxaro Resources to about ZAR 215.67, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E as the key drivers behind the recalibration. What's in the News Exxaro Resources issued revised production guidance for fiscal year 2025, now expecting total production of 39,577,000 tonnes compared with previous guidance of 41,204,000 tonnes (Key Developments).Narrative Update • Feb 07
EXX: Steady Fair Value And Lower Discount Rate Will Support Upside
Analysts have kept their fair value estimate for Exxaro Resources steady at R240.00, citing only modest tweaks to inputs such as a slightly lower discount rate, broadly similar revenue growth and profit margin assumptions, and a small adjustment to the future P/E multiple as the basis for this unchanged price target. What's in the News Exxaro Resources issued revised production guidance for fiscal 2025, with total production now expected at 39,577,000 tonnes, compared with previous guidance of 41,204,000 tonnes (Key Developments).Narrative Update • Jan 23
EXX: Higher Margin Outlook Will Support A More Attractive Future P/E
Analysts have kept their fair value estimate for Exxaro Resources steady at R240.00, with the shift in assumptions, including slightly lower revenue growth and a higher profit margin alongside a reduced future P/E, used to fine tune rather than change their overall price target view. What's in the News Exxaro Resources issued revised production guidance for fiscal 2025, now expecting total production of 39,577,000 tonnes, compared with previous guidance of 41,204,000 tonnes (Key Developments).Analysis Article • Jan 12
There's No Escaping Exxaro Resources Limited's (JSE:EXX) Muted Earnings
Exxaro Resources Limited's ( JSE:EXX ) price-to-earnings (or "P/E") ratio of 5.5x might make it look like a buy right...Narrative Update • Jan 09
EXX: Higher Margin Outlook Will Offset Revised Production Guidance
Analysts have lifted their price target on Exxaro Resources from R201.01 to R215.66, citing updated assumptions for revenue growth, profit margins, a slightly lower discount rate and a modestly lower future P/E multiple. What's in the News Exxaro Resources issued revised production guidance for fiscal 2025, now expecting total production of 39,577,000 tonnes, compared with previous guidance of 41,204,000 tonnes (Key Developments).Narrative Update • Dec 26
EXX: Faster Revenue Outlook Will Support Higher Future Earnings Multiple
Analysts have raised their price target for Exxaro Resources from R230.00 to R240.00, citing expectations of faster revenue growth and a slightly lower discount rate that more than offset reduced margin and a higher assumed future P/E multiple. What's in the News Revised 2025 production guidance: Exxaro now expects total output of 39,577,000 tonnes versus the previous 41,204,000 tonnes, signaling a more conservative volume outlook (company guidance) Valuation Changes Fair Value Estimate: Increased slightly from ZAR 230.00 to ZAR 240.00 per share.Narrative Update • Dec 12
EXX: Future Profit Margin Pressure Will Likely Weigh On Share Price
Analysts have slightly lowered their price target for Exxaro Resources from R150.02 to R149.44. This reflects expectations of stronger revenue growth, somewhat lower profit margins, and a modestly higher future price to earnings multiple.Analysis Article • Nov 11
Exxaro Resources (JSE:EXX) Could Easily Take On More Debt
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Sep 18
Exxaro Resources (JSE:EXX) Is Due To Pay A Dividend Of ZAR8.43
Exxaro Resources Limited's ( JSE:EXX ) investors are due to receive a payment of ZAR8.43 per share on 6th of October...Narrative Update • Aug 27
Lephalale Solar Project Will Reduce Emissions And Operational Costs, But Internal Challenges May Affect Performance
Despite a notable reduction in consensus revenue growth forecasts, Exxaro Resources’ price target has been raised modestly to ZAR201.01, likely reflecting unchanged profitability margins. What's in the News Board approved a gross interim dividend of 843 cents per share.Analysis Article • Aug 24
Exxaro Resources (JSE:EXX) Will Pay A Dividend Of ZAR8.43
Exxaro Resources Limited's ( JSE:EXX ) investors are due to receive a payment of ZAR8.43 per share on 6th of October...Analysis Article • Aug 22
Benign Growth For Exxaro Resources Limited (JSE:EXX) Underpins Its Share Price
With a price-to-earnings (or "P/E") ratio of 5.6x Exxaro Resources Limited ( JSE:EXX ) may be sending bullish signals...Analysis Article • Jul 15
Exxaro Resources' (JSE:EXX) Returns On Capital Are Heading Higher
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • May 07
Improved Earnings Required Before Exxaro Resources Limited (JSE:EXX) Shares Find Their Feet
With a price-to-earnings (or "P/E") ratio of 4.7x Exxaro Resources Limited ( JSE:EXX ) may be sending bullish signals...Analysis Article • Apr 08
Returns On Capital Are Showing Encouraging Signs At Exxaro Resources (JSE:EXX)
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
New Narrative • Mar 16
Lephalale Solar Project Will Reduce Emissions And Operational Costs, But Internal Challenges May Affect Performance
Exxaro's advancements in coal exports, efficiency, and cost management are expected to boost revenue and net margins by accessing more markets and optimizing production.Analysis Article • Jan 08
Returns At Exxaro Resources (JSE:EXX) Appear To Be Weighed Down
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? In a perfect world...Analysis Article • Dec 12
Exxaro Resources (JSE:EXX) Has A Pretty Healthy Balance Sheet
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Nov 21
Exxaro Resources Limited (JSE:EXX) Looks Inexpensive But Perhaps Not Attractive Enough
Exxaro Resources Limited's ( JSE:EXX ) price-to-earnings (or "P/E") ratio of 4.5x might make it look like a strong buy...Analysis Article • Sep 18
Exxaro Resources (JSE:EXX) Has More To Do To Multiply In Value Going Forward
There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and...Analysis Article • Aug 23
Exxaro Resources' (JSE:EXX) Sluggish Earnings Might Be Just The Beginning Of Its Problems
Investors were disappointed by Exxaro Resources Limited's ( JSE:EXX ) latest earnings release. We did some further...Analysis Article • Aug 04
Lacklustre Performance Is Driving Exxaro Resources Limited's (JSE:EXX) Low P/E
When close to half the companies in South Africa have price-to-earnings ratios (or "P/E's") above 10x, you may consider...Analysis Article • Apr 10
Investors Aren't Buying Exxaro Resources Limited's (JSE:EXX) Earnings
Exxaro Resources Limited's ( JSE:EXX ) price-to-earnings (or "P/E") ratio of 3.8x might make it look like a strong buy...Analysis Article • Mar 15
We Think Exxaro Resources (JSE:EXX) Can Stay On Top Of Its Debt
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Jan 17
Exxaro Resources (JSE:EXX) Is Looking To Continue Growing Its Returns On Capital
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • Dec 24
Exxaro Resources Limited's (JSE:EXX) Earnings Are Not Doing Enough For Some Investors
Exxaro Resources Limited's ( JSE:EXX ) price-to-earnings (or "P/E") ratio of 4.2x might make it look like a strong buy...Analysis Article • Oct 10
Exxaro Resources (JSE:EXX) Is Looking To Continue Growing Its Returns On Capital
What are the early trends we should look for to identify a stock that could multiply in value over the long term...Analysis Article • Sep 14
Exxaro Resources (JSE:EXX) Has A Pretty Healthy Balance Sheet
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Jun 17
Exxaro Resources (JSE:EXX) Is Very Good At Capital Allocation
If you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and...Analysis Article • May 30
Exxaro Resources (JSE:EXX) Seems To Use Debt Rather Sparingly
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Apr 03
The Market Doesn't Like What It Sees From Exxaro Resources Limited's (JSE:EXX) Earnings Yet
When close to half the companies in South Africa have price-to-earnings ratios (or "P/E's") above 9x, you may consider...Analysis Article • Mar 19
Exxaro Resources Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
Exxaro Resources Limited ( JSE:EXX ) missed earnings with its latest yearly results, disappointing overly-optimistic...Shareholder Returns
| EXX | ZA Oil and Gas | ZA Market | |
|---|---|---|---|
| 7D | 3.3% | 0.3% | 1.4% |
| 1Y | 45.8% | 69.5% | 18.3% |
Return vs Industry: EXX underperformed the ZA Oil and Gas industry which returned 69.1% over the past year.
Return vs Market: EXX exceeded the ZA Market which returned 19.9% over the past year.
Price Volatility
| EXX volatility | |
|---|---|
| EXX Average Weekly Movement | 3.8% |
| Oil and Gas Industry Average Movement | 5.4% |
| Market Average Movement | 5.0% |
| 10% most volatile stocks in ZA Market | 10.7% |
| 10% least volatile stocks in ZA Market | 3.3% |
Stable Share Price: EXX has not had significant price volatility in the past 3 months compared to the ZA market.
Volatility Over Time: EXX's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2000 | n/a | Ben Magara | www.exxaro.com |
Exxaro Resources Limited engages in coal, pigment manufacturing, and renewable energy businesses in South Africa, Europe, Asia, and internationally. The company mines and supplies thermal coal, metallurgical coal, and semi-soft coking coal products primarily in the Waterberg and Mpumalanga regions; manufactures ferrosilicon powder; and provides iron ore. Its energy solutions business consists of 229 megawatts of wind power generation assets.
Exxaro Resources Limited Fundamentals Summary
| EXX fundamental statistics | |
|---|---|
| Market cap | R50.09b |
| Earnings (TTM) | R7.56b |
| Revenue (TTM) | R41.77b |
6.6x
P/E Ratio1.2x
P/S RatioIs EXX overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| EXX income statement (TTM) | |
|---|---|
| Revenue | R41.77b |
| Cost of Revenue | R17.89b |
| Gross Profit | R23.89b |
| Other Expenses | R16.32b |
| Earnings | R7.56b |
Last Reported Earnings
Dec 31, 2025
Next Earnings Date
n/a
| Earnings per share (EPS) | 32.30 |
| Gross Margin | 57.18% |
| Net Profit Margin | 18.11% |
| Debt/Equity Ratio | 17.6% |
How did EXX perform over the long term?
See historical performance and comparisonDividends
8.6%
Current Dividend Yield58%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/28 06:00 |
| End of Day Share Price | 2026/05/27 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Exxaro Resources Limited is covered by 14 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Mpumelelo Mthembu | Absa Bank Limited |
| Wade Napier | Avior Capital Markets |
| Caroline Learmonth | Barclays |