Anglo American Platinum Limited

JSE:AMS Stock Report

Market Cap: R168.9b

Anglo American Platinum Valuation

Is AMS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AMS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AMS (ZAR626.99) is trading above our estimate of fair value (ZAR139.85)

Significantly Below Fair Value: AMS is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AMS?

Key metric: As AMS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for AMS. This is calculated by dividing AMS's market cap by their current earnings.
What is AMS's PE Ratio?
PE Ratio14.2x
EarningsR11.62b
Market CapR168.88b

Price to Earnings Ratio vs Peers

How does AMS's PE Ratio compare to its peers?

The above table shows the PE ratio for AMS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.5x
NPH Northam Platinum Holdings
24.8x30.8%R45.5b
THA Tharisa
3.7x-1.6%R4.6b
KIO Kumba Iron Ore
5.4x-9.1%R110.6b
GFI Gold Fields
20x40.5%R244.3b
AMS Anglo American Platinum
14.2x17.5%R168.9b

Price-To-Earnings vs Peers: AMS is expensive based on its Price-To-Earnings Ratio (14.2x) compared to the peer average (13.5x).

Price to Earnings Ratio vs Industry

How does AMS's PE Ratio compare vs other companies in the African Metals and Mining Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AMS 14.2xIndustry Avg. 12.1xNo. of Companies4PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AMS is expensive based on its Price-To-Earnings Ratio (14.2x) compared to the African Metals and Mining industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is AMS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AMS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.2x
Fair PE Ratio15.6x

Price-To-Earnings vs Fair Ratio: AMS is good value based on its Price-To-Earnings Ratio (14.2x) compared to the estimated Fair Price-To-Earnings Ratio (15.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst AMS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentR626.99
R702.22
+12.0%
14.9%R877.00R580.00n/a9
Nov ’25R701.64
R696.67
-0.7%
15.8%R877.00R575.00n/a9
Oct ’25R639.99
R691.22
+8.0%
15.6%R877.00R570.00n/a9
Sep ’25R615.58
R696.44
+13.1%
15.2%R877.00R570.00n/a9
Aug ’25R654.70
R700.80
+7.0%
14.2%R877.00R570.00n/a10
Jul ’25R568.50
R724.50
+27.4%
17.1%R1,000.00R550.00n/a10
Jun ’25R610.55
R760.56
+24.6%
15.1%R1,000.00R600.00n/a9
May ’25R661.74
R749.29
+13.2%
9.3%R877.00R660.00n/a7
Apr ’25R768.49
R739.68
-3.7%
8.9%R820.00R599.00n/a10
Mar ’25R731.40
R735.68
+0.6%
8.6%R809.00R599.00n/a10
Feb ’25R812.93
R794.78
-2.2%
25.9%R1,400.00R650.00n/a10
Jan ’25R964.00
R797.58
-17.3%
25.5%R1,400.00R661.00n/a10
Dec ’24R757.88
R796.28
+5.1%
25.9%R1,400.00R628.00n/a10
Nov ’24R621.65
R828.18
+33.2%
24.8%R1,400.00R628.00R701.6410
Oct ’24R705.96
R966.60
+36.9%
25.0%R1,400.00R745.00R639.9910
Sep ’24R630.89
R1,040.60
+64.9%
26.8%R1,700.00R745.00R615.5810
Aug ’24R872.04
R1,064.00
+22.0%
24.8%R1,700.00R810.00R654.7010
Jul ’24R851.25
R1,162.78
+36.6%
21.5%R1,700.00R900.00R568.509
Jun ’24R1,137.84
R1,256.11
+10.4%
23.8%R2,000.00R1,000.00R610.559
May ’24R1,083.23
R1,254.38
+15.8%
25.1%R2,000.00R980.00R661.748
Apr ’24R954.00
R1,303.13
+36.6%
23.0%R2,000.00R1,000.00R768.498
Mar ’24R1,012.34
R1,330.22
+31.4%
21.5%R2,000.00R1,000.00R731.409
Feb ’24R1,283.93
R1,409.11
+9.7%
20.3%R2,000.00R1,000.00R812.939
Jan ’24R1,424.88
R1,511.60
+6.1%
23.6%R2,350.00R1,000.00R964.0010
Dec ’23R1,742.59
R1,518.60
-12.9%
21.0%R2,350.00R1,130.00R757.8810
Nov ’23R1,463.51
R1,513.60
+3.4%
20.7%R2,350.00R1,200.00R621.6510

Analyst Forecast: Target price is less than 20% higher than the current share price.

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