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IMP

Impala Platinum HoldingsJSE:IMP Stock Report

Last Price

R229.80

Market Cap

R194.1b

7D

2.3%

1Y

5.9%

Updated

23 Jan, 2022

Data

Company Financials +
IMP fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance5/6
Financial Health6/6
Dividends5/6

IMP Stock Overview

Impala Platinum Holdings Limited engages in mining, processing, refining, and marketing platinum group metals (PGMs).

Impala Platinum Holdings Competitors

Anglo American Platinum

JSE:AMS

R469.3b

Sibanye Stillwater

JSE:SSW

R165.2b

Northam Platinum Holdings

JSE:NPH

R77.1b

Royal Bafokeng Platinum

JSE:RBP

R46.4b

Price History & Performance

Summary of all time highs, changes and price drops for Impala Platinum Holdings
Historical stock prices
Current Share PriceR229.80
52 Week HighR300.50
52 Week LowR160.53
Beta1.57
1 Month Change5.98%
3 Month Change8.26%
1 Year Change5.95%
3 Year Change512.80%
5 Year Change335.23%
Change since IPO4,277.15%

Recent News & Updates

Shareholder Returns

IMPZA Metals and MiningZA Market
7D2.3%2.6%-0.3%
1Y5.9%3.4%13.9%

Return vs Industry: IMP exceeded the ZA Metals and Mining industry which returned 3.4% over the past year.

Return vs Market: IMP underperformed the ZA Market which returned 13.9% over the past year.

Price Volatility

Is IMP's price volatile compared to industry and market?
IMP volatility
IMP Average Weekly Movement7.1%
Metals and Mining Industry Average Movement7.0%
Market Average Movement5.7%
10% most volatile stocks in ZA Market12.1%
10% least volatile stocks in ZA Market3.3%

Stable Share Price: IMP is not significantly more volatile than the rest of ZA stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: IMP's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a39,834Nico Mullerhttps://www.implats.co.za

Impala Platinum Holdings Limited engages in mining, processing, refining, and marketing platinum group metals (PGMs). The company produces platinum, palladium, rhodium, cobalt, and nickel, as well as chrome. It has operations on the PGM-bearing ore bodies, including the Bushveld Complex located in South Africa; and the Great Dyke situated in Zimbabwe.

Impala Platinum Holdings Fundamentals Summary

How do Impala Platinum Holdings's earnings and revenue compare to its market cap?
IMP fundamental statistics
Market CapR194.09b
Earnings (TTM)R47.03b
Revenue (TTM)R129.58b

4.1x

P/E Ratio

1.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IMP income statement (TTM)
RevenueR129.58b
Cost of RevenueR76.12b
Gross ProfitR53.46b
ExpensesR6.42b
EarningsR47.03b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Mar 01, 2022

Earnings per share (EPS)55.68
Gross Margin41.25%
Net Profit Margin36.30%
Debt/Equity Ratio0.001%

How did IMP perform over the long term?

See historical performance and comparison

Dividends

10.4%

Current Dividend Yield

37%

Payout Ratio

Valuation

Is Impala Platinum Holdings undervalued compared to its fair value and its price relative to the market?

19.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IMP (ZAR229.8) is trading below our estimate of fair value (ZAR283.64)

Significantly Below Fair Value: IMP is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: IMP is good value based on its PE Ratio (4.1x) compared to the ZA Metals and Mining industry average (6x).

PE vs Market: IMP is good value based on its PE Ratio (4.1x) compared to the ZA market (10.9x).


Price to Earnings Growth Ratio

PEG Ratio: IMP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: IMP is overvalued based on its PB Ratio (2.2x) compared to the ZA Metals and Mining industry average (1.3x).


Future Growth

How is Impala Platinum Holdings forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

-15.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IMP's earnings are forecast to decline over the next 3 years (-15.4% per year).

Earnings vs Market: IMP's earnings are forecast to decline over the next 3 years (-15.4% per year).

High Growth Earnings: IMP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: IMP's revenue is expected to decline over the next 3 years (-1.7% per year).

High Growth Revenue: IMP's revenue is forecast to decline over the next 3 years (-1.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IMP's Return on Equity is forecast to be high in 3 years time (21.2%)


Past Performance

How has Impala Platinum Holdings performed over the past 5 years?

73.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IMP has high quality earnings.

Growing Profit Margin: IMP's current net profit margins (36.3%) are higher than last year (23%).


Past Earnings Growth Analysis

Earnings Trend: IMP has become profitable over the past 5 years, growing earnings by 73.3% per year.

Accelerating Growth: IMP's earnings growth over the past year (192.9%) exceeds its 5-year average (73.3% per year).

Earnings vs Industry: IMP earnings growth over the past year (192.9%) underperformed the Metals and Mining industry 218.4%.


Return on Equity

High ROE: IMP's Return on Equity (52.8%) is considered outstanding.


Financial Health

How is Impala Platinum Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: IMP's short term assets (ZAR56.7B) exceed its short term liabilities (ZAR17.8B).

Long Term Liabilities: IMP's short term assets (ZAR56.7B) exceed its long term liabilities (ZAR18.0B).


Debt to Equity History and Analysis

Debt Level: IMP has more cash than its total debt.

Reducing Debt: IMP's debt to equity ratio has reduced from 13.5% to 0% over the past 5 years.

Debt Coverage: IMP's debt is well covered by operating cash flow (4183400%).

Interest Coverage: IMP earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Impala Platinum Holdings's current dividend yield, its reliability and sustainability?

10.44%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IMP's dividend (10.44%) is higher than the bottom 25% of dividend payers in the ZA market (2.87%).

High Dividend: IMP's dividend (10.44%) is in the top 25% of dividend payers in the ZA market (7.34%)


Stability and Growth of Payments

Stable Dividend: IMP's dividend payments have been volatile in the past 10 years.

Growing Dividend: IMP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (36.7%), IMP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: IMP's dividends in 3 years are forecast to be covered by earnings (80.5% payout ratio).


Next Steps

Management

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

3.7yrs

Average management tenure


CEO

Nico Muller (55 yo)

4.75yrs

Tenure

R87,313,000

Compensation

Mr. Nicolaas Johannes Muller, also known as Nico, B.Sc., Mining Eng., has been the Chief Executive Officer and Executive Director of Impala Platinum Holdings Limited since April 3, 2017. Mr. Muller has a m...


CEO Compensation Analysis

Compensation vs Market: Nico's total compensation ($USD5.79M) is above average for companies of similar size in the ZA market ($USD2.58M).

Compensation vs Earnings: Nico's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: IMP's management team is considered experienced (3.7 years average tenure).


Board Members

Experienced Board: IMP's board of directors are considered experienced (4.5 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: IMP insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.6%.


Top Shareholders

Company Information

Impala Platinum Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Impala Platinum Holdings Limited
  • Ticker: IMP
  • Exchange: JSE
  • Founded: NaN
  • Industry: Precious Metals and Minerals
  • Sector: Materials
  • Implied Market Cap: R194.092b
  • Shares outstanding: 844.61m
  • Website: https://www.implats.co.za

Number of Employees


Location

  • Impala Platinum Holdings Limited
  • 2 Fricker Road
  • Illovo
  • Sandton
  • Gauteng
  • 2196
  • South Africa

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/23 17:01
End of Day Share Price2022/01/21 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


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.