JSE:IMP

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Impala Platinum Holdings

Executive Summary

Impala Platinum Holdings Limited engages in mining, processing, refining, and marketing platinum group metals (PGMs) in South Africa and Zimbabwe. More Details


Snowflake Analysis

Outstanding track record with flawless balance sheet.


Similar Companies

Share Price & News

How has Impala Platinum Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: IMP is not significantly more volatile than the rest of ZA stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: IMP's weekly volatility (9%) has been stable over the past year.


Market Performance


7 Day Return

4.2%

IMP

-0.03%

ZA Metals and Mining

1.0%

ZA Market


1 Year Return

39.1%

IMP

32.6%

ZA Metals and Mining

-2.1%

ZA Market

Return vs Industry: IMP exceeded the ZA Metals and Mining industry which returned 32.6% over the past year.

Return vs Market: IMP exceeded the ZA Market which returned -2.2% over the past year.


Shareholder returns

IMPIndustryMarket
7 Day4.2%-0.03%1.0%
30 Day8.9%6.5%3.4%
90 Day27.1%3.9%12.0%
1 Year45.2%39.1%37.6%32.6%3.0%-2.1%
3 Year561.8%533.9%234.4%198.2%3.4%-17.7%
5 Year760.3%724.1%418.0%335.4%50.6%8.4%

Long-Term Price Volatility Vs. Market

How volatile is Impala Platinum Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

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

21.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IMP (ZAR215.09) is trading below our estimate of fair value (ZAR272.89)

Significantly Below Fair Value: IMP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: IMP is good value based on its PE Ratio (10.4x) compared to the ZA Metals and Mining industry average (14.9x).

PE vs Market: IMP is good value based on its PE Ratio (10.4x) compared to the ZA market (13.2x).


Price to Earnings Growth Ratio

PEG Ratio: IMP is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: IMP is overvalued based on its PB Ratio (2.7x) compared to the ZA Metals and Mining industry average (1.2x).


Next Steps

Future Growth

How is Impala Platinum Holdings forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

9.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IMP's forecast earnings growth (9.3% per year) is above the savings rate (9.3%).

Earnings vs Market: IMP's earnings (9.3% per year) are forecast to grow slower than the ZA market (27.4% per year).

High Growth Earnings: IMP's earnings are forecast to grow, but not significantly.

Revenue vs Market: IMP's revenue (12.1% per year) is forecast to grow faster than the ZA market (10.3% per year).

High Growth Revenue: IMP's revenue (12.1% per year) is forecast to grow slower than 20% 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 (22.1%)


Next Steps

Past Performance

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

31.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IMP has high quality earnings.

Growing Profit Margin: IMP's current net profit margins (23%) are higher than last year (3%).


Past Earnings Growth Analysis

Earnings Trend: IMP has become profitable over the past 5 years, growing earnings by 31.7% per year.

Accelerating Growth: IMP's earnings growth over the past year (987%) exceeds its 5-year average (31.7% per year).

Earnings vs Industry: IMP earnings growth over the past year (987%) exceeded the Metals and Mining industry 117.2%.


Return on Equity

High ROE: IMP's Return on Equity (25.5%) is considered high.


Next Steps

Financial Health

How is Impala Platinum Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: IMP's short term assets (ZAR38.9B) exceed its short term liabilities (ZAR12.5B).

Long Term Liabilities: IMP's short term assets (ZAR38.9B) exceed its long term liabilities (ZAR18.8B).


Debt to Equity History and Analysis

Debt Level: IMP's debt to equity ratio (11.7%) is considered satisfactory.

Reducing Debt: IMP's debt to equity ratio has reduced from 12.8% to 11.7% over the past 5 years.

Debt Coverage: IMP's debt is well covered by operating cash flow (225.8%).

Interest Coverage: IMP's interest payments on its debt are well covered by EBIT (46x coverage).


Balance Sheet


Next Steps

Dividend

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

2.44%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IMP's dividend (2.44%) isn’t notable compared to the bottom 25% of dividend payers in the ZA market (3.07%).

High Dividend: IMP's dividend (2.44%) is low compared to the top 25% of dividend payers in the ZA market (8.85%).


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 (25.4%), 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 well covered by earnings (41.1% payout ratio).


Next Steps

Management

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

3.0yrs

Average management tenure


CEO

Nico Muller (54 yo)

3.75yrs

Tenure

R38,333,000

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 ($USD2.52M) is about average for companies of similar size in the ZA market ($USD3.03M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Nicolaas Muller
CEO & Executive Director3.75yrsR38.33m0.023%
ZAR 37.8m
Meroonisha Kerber
CFO, Debt Officer & Executive Director2.42yrsR8.77mno data
Gerhard Potgieter
Chief Operating Officer3yrsR19.58mno data
Johan Theron
Group Executive of Corporate Affairsno dataR13.17mno data
Kirthanya Pillay
Group Executive of Corporate Development1.58yrsR5.47mno data
Sifiso Sibiya
Group Executive of Refining & Marketing2yrsR6.56mno data
Lee-Ann Samuel
Group Executive of People & Executive Director3.17yrsR12.05m0%
ZAR 0
Jonathan Andrews
Group Executive of Health & Safetyno dataR7.83mno data
Alexander Mhembere
Chief Executive Officer of Zimplatsno dataR2.32mno data
Tebogo Llale
Company Secretary6.42yrsR5.50mno data
Mark Munroe
Chief Executive of Impala Rustenburg Operations3yrsR15.14mno data
Stefanie Vivier
Group Legal Services Managerno datano datano data

3.0yrs

Average Tenure

54yo

Average Age

Experienced Management: IMP's management team is considered experienced (3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Nicolaas Muller
CEO & Executive Director3.75yrsR38.33m0.023%
ZAR 37.8m
Meroonisha Kerber
CFO, Debt Officer & Executive Director2.42yrsR8.77mno data
Lee-Ann Samuel
Group Executive of People & Executive Director3.17yrsR12.05m0%
ZAR 0
Zacharias Swanepoel
Independent Non-Executive Director5.83yrsR1.43m0.0013%
ZAR 2.2m
Preston Speckmann
Independent Non-Executive Director2.42yrsR846.00kno data
Mpho Elizabeth Nkeli
Independent Non-Executive Director5.75yrsR986.00kno data
Dawn Earp
Independent Non-Executive Director2.42yrsR1.10mno data
Babalwa Ngonyama
Lead Independent Directorno dataR1.40m0.00041%
ZAR 679.5k
Noluthando Bahedile Orleyn
Independent Non-Executive Chairman0.25yrR127.00kno data
Alastair Macfarlane
Independent Non-Executive Director8.08yrsR848.00kno data
Peter Davey
Independent Non-Executive Director7.5yrsR1.60m0.00018%
ZAR 298.3k
Fholisani Mufamadi
Independent Non-Executive Director5.83yrsR599.00kno data

3.8yrs

Average Tenure

58.5yo

Average Age

Experienced Board: IMP's board of directors are considered experienced (3.8 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Impala Platinum Holdings Limited
  • Ticker: IMP
  • Exchange: JSE
  • Founded:
  • Industry: Precious Metals and Minerals
  • Sector: Materials
  • Market Cap: R165.739b
  • Shares outstanding: 770.56m
  • Website: https://www.implats.co.za

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IMPU.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDNov 1982
0S2JLSE (London Stock Exchange)SPONSORED ADRGBUSDNov 1982
IPH1DB (Deutsche Boerse AG)SPONSORED ADRDEEURNov 1982
IMPJSE (The Johannesburg Securities Exchange)YesOrdinary SharesZAZARNov 1982
IPHBDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 1982
IMPU.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 1982

Biography

Impala Platinum Holdings Limited engages in mining, processing, refining, and marketing platinum group metals (PGMs) in South Africa and Zimbabwe. The company produces platinum, palladium, and rhodium, as ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/16 17:40
End of Day Share Price2021/01/15 00:00
Earnings2020/06/30
Annual Earnings2020/06/30


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.