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RBP

Royal Bafokeng PlatinumJSE:RBP Stock Report

Last Price

R161.82

Market Cap

R46.4b

7D

-0.1%

1Y

124.8%

Updated

22 Jan, 2022

Data

Company Financials +
RBP fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance6/6
Financial Health5/6
Dividends2/6

RBP Stock Overview

Royal Bafokeng Platinum Limited, together with its subsidiaries, engages in mining and producing platinum group metals in South Africa.

Royal Bafokeng Platinum Competitors

Impala Platinum Holdings

JSE:IMP

R194.1b

Northam Platinum Holdings

JSE:NPH

R77.1b

Tharisa

JSE:THA

R7.9b

Wesizwe Platinum

JSE:WEZ

R2.6b

Price History & Performance

Summary of all time highs, changes and price drops for Royal Bafokeng Platinum
Historical stock prices
Current Share PriceR161.82
52 Week HighR171.62
52 Week LowR64.07
Beta1.3
1 Month Change3.11%
3 Month Change75.53%
1 Year Change124.75%
3 Year Change458.00%
5 Year Change318.25%
Change since IPO149.34%

Recent News & Updates

Shareholder Returns

RBPZA Metals and MiningZA Market
7D-0.1%2.6%-0.3%
1Y124.8%3.4%13.9%

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

Return vs Market: RBP exceeded the ZA Market which returned 13.9% over the past year.

Price Volatility

Is RBP's price volatile compared to industry and market?
RBP volatility
RBP Average Weekly Movement9.1%
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: RBP is more volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: RBP's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of ZA stocks.

About the Company

FoundedEmployeesCEOWebsite
200810,546Steve Phirihttps://www.bafokengplatinum.co.za

Royal Bafokeng Platinum Limited, together with its subsidiaries, engages in mining and producing platinum group metals in South Africa. The company explores for platinum, palladium, rhodium, iridium, osmium, ruthenium, gold, nickel, copper, and cobalt. Its operations include the Bafokeng Rasimone Platinum mine (BRPM), which consists of a North and South shaft; Styldrift; the BRPM Concentrator complex; and the Maseve concentrator plant.

Royal Bafokeng Platinum Fundamentals Summary

How do Royal Bafokeng Platinum's earnings and revenue compare to its market cap?
RBP fundamental statistics
Market CapR46.40b
Earnings (TTM)R7.55b
Revenue (TTM)R18.36b

6.1x

P/E Ratio

2.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
RBP income statement (TTM)
RevenueR18.36b
Cost of RevenueR8.90b
Gross ProfitR9.45b
ExpensesR1.90b
EarningsR7.55b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Mar 08, 2022

Earnings per share (EPS)26.34
Gross Margin51.50%
Net Profit Margin41.14%
Debt/Equity Ratio8.6%

How did RBP perform over the long term?

See historical performance and comparison

Dividends

6.6%

Current Dividend Yield

38%

Payout Ratio

Valuation

Is Royal Bafokeng Platinum undervalued compared to its fair value and its price relative to the market?

6.14x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: RBP (ZAR161.82) is trading above our estimate of fair value (ZAR156.45)

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


Price To Earnings Ratio

PE vs Industry: RBP is poor value based on its PE Ratio (6.1x) compared to the ZA Metals and Mining industry average (6x).

PE vs Market: RBP is good value based on its PE Ratio (6.1x) compared to the ZA market (10.9x).


Price to Earnings Growth Ratio

PEG Ratio: RBP is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: RBP is overvalued based on its PB Ratio (1.9x) compared to the ZA Metals and Mining industry average (1.3x).


Future Growth

How is Royal Bafokeng Platinum forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

1.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RBP's forecast earnings growth (1.8% per year) is below the savings rate (8.8%).

Earnings vs Market: RBP's earnings (1.8% per year) are forecast to grow faster than the ZA market (0.1% per year).

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

Revenue vs Market: RBP's revenue (1.8% per year) is forecast to grow slower than the ZA market (5.8% per year).

High Growth Revenue: RBP's revenue (1.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: RBP's Return on Equity is forecast to be high in 3 years time (20%)


Past Performance

How has Royal Bafokeng Platinum performed over the past 5 years?

87.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RBP has high quality earnings.

Growing Profit Margin: RBP's current net profit margins (41.1%) are higher than last year (12.3%).


Past Earnings Growth Analysis

Earnings Trend: RBP has become profitable over the past 5 years, growing earnings by 87.5% per year.

Accelerating Growth: RBP's earnings growth over the past year (587.8%) exceeds its 5-year average (87.5% per year).

Earnings vs Industry: RBP earnings growth over the past year (587.8%) exceeded the Metals and Mining industry 218.4%.


Return on Equity

High ROE: RBP's Return on Equity (31.1%) is considered high.


Financial Health

How is Royal Bafokeng Platinum's financial position?


Financial Position Analysis

Short Term Liabilities: RBP's short term assets (ZAR11.8B) exceed its short term liabilities (ZAR1.8B).

Long Term Liabilities: RBP's short term assets (ZAR11.8B) exceed its long term liabilities (ZAR9.0B).


Debt to Equity History and Analysis

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

Reducing Debt: RBP's debt to equity ratio has increased from 2.6% to 8.6% over the past 5 years.

Debt Coverage: RBP's debt is well covered by operating cash flow (320.6%).

Interest Coverage: RBP's interest payments on its debt are well covered by EBIT (41.5x coverage).


Balance Sheet


Dividend

What is Royal Bafokeng Platinum current dividend yield, its reliability and sustainability?

6.61%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: RBP's dividend (6.61%) is higher than the bottom 25% of dividend payers in the ZA market (2.87%).

High Dividend: RBP's dividend (6.61%) is low compared to the top 25% of dividend payers in the ZA market (7.34%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether RBP's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if RBP's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.5%), RBP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: RBP's dividends in 3 years are not forecast to be well covered by earnings (112.2% payout ratio).


Next Steps

Management

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

7.8yrs

Average management tenure


CEO

Steve Phiri (65 yo)

11.75yrs

Tenure

R9,032,946

Compensation

Mr. Stephen Ditshebo Phiri, also known as Steve, B.Juris LLB, LLM, H.Dip Co. Law, has been the Chief Executive Officer and Executive Director of Royal Bafokeng Platinum Limited since April 1, 2010. Mr. Phi...


CEO Compensation Analysis

Compensation vs Market: Steve's total compensation ($USD599.29K) is below average for companies of similar size in the ZA market ($USD1.19M).

Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: RBP's management team is seasoned and experienced (7.8 years average tenure).


Board Members

Experienced Board: RBP's board of directors are considered experienced (3.9 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: RBP 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 11.5%.


Top Shareholders

Company Information

Royal Bafokeng Platinum Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Royal Bafokeng Platinum Limited
  • Ticker: RBP
  • Exchange: JSE
  • Founded: 2008
  • Industry: Precious Metals and Minerals
  • Sector: Materials
  • Implied Market Cap: R46.402b
  • Shares outstanding: 286.75m
  • Website: https://www.bafokengplatinum.co.za

Number of Employees


Location

  • Royal Bafokeng Platinum Limited
  • The Pivot
  • Block C, 4th Floor
  • Johannesburg
  • Gauteng
  • 2021
  • South Africa

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/22 17:01
End of Day Share Price2022/01/21 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.