Valterra Platinum Management
Management criteria checks 2/4
Valterra Platinum's CEO is Craig Miller, appointed in Oct 2023, has a tenure of 2.58 years. total yearly compensation is ZAR46.33M, comprised of 28.4% salary and 71.6% bonuses, including company stock and options. directly owns 0.003% of the company’s shares, worth ZAR8.78M. The average tenure of the management team and the board of directors is 2.6 years and 2.8 years respectively.
Key information
Craig Miller
Chief executive officer
R46.3m
Total compensation
| CEO salary percentage | 28.41% |
| CEO tenure | 2.6yrs |
| CEO ownership | 0.003% |
| Management average tenure | 2.6yrs |
| Board average tenure | 2.8yrs |
Recent management updates
Recent updates
VAL: Dividend Windfall And Rising EPS Guidance Will Support Future Returns
Analysts have kept their ZAR 2,160 price target for Valterra Platinum unchanged, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E following recent research updates. Analyst Commentary Recent research indicates that bullish analysts see the reaffirmed ZAR 2,160 price target as supported by refreshed assumptions around discount rates, revenue growth, profit margins and future P/E, rather than as a placeholder target.VAL: Dividend Windfall And Higher EPS Will Support Future Returns
Analysts have revised their ZAR price target on Valterra Platinum to ZAR2,160, reflecting updated views on revenue growth, profit margins and the appropriate P/E multiple following recent Street research. Analyst Commentary Bullish analysts point to the revised ZAR2,160 price target as a key marker of confidence in Valterra Platinum's ability to align revenue trends, profit margins and its P/E multiple with updated Street expectations.VAL: Dividend Windfall And Higher Earnings Guidance Will Drive Future Returns
Analysts have kept the Valterra Platinum price target steady at ZAR2,160.00, highlighting updated assumptions around a ZAR18.44% discount rate, ZAR13.90% revenue growth, a ZAR29.78% profit margin and an ZAR18.37x future P/E as the key drivers behind the refreshed view. What's in the News The board approved a special cash dividend of ZAR5,300m, equal to ZAR20.00 per share, for the year ended 31 December 2025, with payment scheduled for 30 March 2026 on the JSE and 15 April 2026 on the LSE (Key Developments).
VAL: Dividend Windfall And Higher EPS Will Face Compressed Future Multiple
Analysts have left their Valterra Platinum fair value estimate unchanged at ZAR689. The latest price target update reflects a lower assumed discount rate, a higher profit margin and a reduced future P/E multiple.
VAL: Fair Value Will Hinge On Execution Of Production And Margin Guidance
The analyst price target for Valterra Platinum has shifted from ZAR1,050.28 to ZAR1,480.70, with analysts citing updated assumptions for revenue growth, profit margins, discount rate and future P/E as the key drivers of this change. What's in the News Valterra Platinum issued production guidance for 2026, with Platinum Group Metals mined and contained (M&C) and refined volumes each expected in a range of 3.0 Moz to 3.4 Moz.VAL: Higher Earnings Guidance Will Support Stronger Future Profitability
Analysts have raised their price target for Valterra Platinum from $1,050 to $2,160, citing updated assumptions regarding fair value, discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News Reported fourth quarter 2025 total mining and concentrating PGM production of 880,200 ounces compared with 875,700 ounces in the prior year quarter, with total refined production of 1,296,700 ounces compared with 1,210,700 ounces (company announcement of operating results).VAL: Higher Output Guidance Will Later Meet Softer Earnings Multiple
Analysts have nudged their price target on Valterra Platinum slightly higher to $689, reflecting tweaked assumptions around a marginally higher discount rate, stronger modeled revenue growth, a modestly softer profit margin, and a slightly lower future P/E multiple. What's in the News Valterra Platinum issued earnings guidance for the twelve months ending December 31, 2025, with basic EPS projected in a range of 5,522 cents to 6,055 cents per share, compared with 2,683 cents per share in the prior period (Corporate guidance).VAL: Higher Production Guidance Will Mask Weaker Future P/E Upside
Analysts have lifted their price target for Valterra Platinum from $552 to $689, citing updated assumptions for revenue growth, profit margins, and a lower future P/E multiple that together reshape their view of the stock's potential value. What's in the News Valterra Platinum reaffirmed its 2025 production guidance for Amandelbult at 450,000 to 480,000 PGM ounces, indicating the company still expects to meet its previously communicated full year targets (Corporate Guidance).VAL: Shares Will Face Pressure As Raised Price Goal Masks Execution Risks
Analysts have raised their price target for Valterra Platinum from £26.00 to £32.00, reflecting slightly higher projected revenue growth, modestly improved profit margins, and a somewhat richer assumed future P E multiple despite a marginally higher discount rate. Analyst Commentary Recent Street research reflects a nuanced stance on Valterra Platinum, with the higher price target indicating recognition of improved fundamentals even as caution remains on the shares.VAL: Shares Will Face Pressure Amid Sustainability Concerns Despite Recent Stock Rally
Analysts have increased their price target for Valterra Platinum from £26.00 to £32.00 per share. They cite a modest improvement in revenue growth expectations and updated model assumptions as the reasons for this adjustment.VAL: Focus Will Shift To Execution As Profit Margins Forecast To Improve
Narrative Update on Valterra Platinum Analysts have raised Valterra Platinum's target price from £26.00 to £32.00. Improved profit margin forecasts and higher anticipated revenue growth were cited as key drivers behind the upgrade.VAL: Price Rally Will Face Risks From Ongoing Competitive Pressures
Narrative Update: Valterra Platinum Analyst Price Target Revised Valterra Platinum's analyst price target has increased by £600 to £3,200 per share. Analysts cite higher fair value estimates and stable profit margins as key drivers for their updated outlook.Clean Energy Trends Will Expand PGM Catalyst Potential
Valterra Platinum's analyst price target has increased from £8.76 to £9.38, reflecting analysts' more positive outlook based on higher projected revenue growth and improved profit margins. Analyst Commentary Analyst updates for Valterra Platinum reveal a mix of caution and optimism following recent adjustments to price targets.Clean Energy Trends Will Expand PGM Catalyst Potential
Valterra Platinum's analyst price target has risen from £832.91 to £875.64. This reflects analysts' expectations for improved profit margins, despite slightly softer revenue growth forecasts.Clean Energy Trends Will Expand PGM Catalyst Potential
Valterra Platinum’s modest price target increase to ZAR832.91 reflects analysts’ confidence in improved operational efficiency, robust platinum demand, and management’s consistent delivery, despite ongoing macroeconomic uncertainties. Analyst Commentary Improved operational efficiency and cost controls highlighted as supporting factors for modest target increases, despite a cautious outlook.Clean Energy Trends Will Expand PGM Catalyst Potential
Valterra Platinum’s consensus price target was modestly reduced to ZAR805.20 as analysts balanced ongoing operational strength with caution over post-spinout headwinds and lingering sector risks. Analyst Commentary Bullish analysts cited continued strong performance post-spinout despite minor target reductions.Operational Cost Cuts Will Mitigate PGM Risks While Production Expands
Long-term revenue visibility is uncertain due to substitution risks and overreliance on traditional automotive platinum demand.Here's What's Concerning About Valterra Platinum's (JSE:VAL) Returns On Capital
Jun 16
With Anglo American Platinum Limited (JSE:AMS) It Looks Like You'll Get What You Pay For
May 25
Der Brochen And Mogalakwena Developments Will Improve Future PGM Efficiency
The demerger from Anglo American Group and operational focus could enhance profitability and earnings through improved efficiency and cost management.CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Dec 31 2025 | R46m | R13m | R15b |
| Sep 30 2025 | n/a | n/a | R8b |
| Jun 30 2025 | n/a | n/a | R1b |
| Mar 31 2025 | n/a | n/a | R4b |
| Dec 31 2024 | R33m | R13m | R7b |
| Sep 30 2024 | n/a | n/a | R9b |
| Jun 30 2024 | n/a | n/a | R12b |
| Mar 31 2024 | n/a | n/a | R12b |
| Dec 31 2023 | R54m | R9m | R13b |
| Sep 30 2023 | n/a | n/a | R22b |
| Jun 30 2023 | n/a | n/a | R30b |
| Mar 31 2023 | n/a | n/a | R40b |
| Dec 31 2022 | R23m | R8m | R49b |
| Sep 30 2022 | n/a | n/a | R54b |
| Jun 30 2022 | n/a | n/a | R59b |
| Mar 31 2022 | n/a | n/a | R69b |
| Dec 31 2021 | R33m | R8m | R79b |
| Sep 30 2021 | n/a | n/a | R75b |
| Jun 30 2021 | n/a | n/a | R70b |
| Mar 31 2021 | n/a | n/a | R50b |
| Dec 31 2020 | R15m | R7m | R30b |
| Sep 30 2020 | n/a | n/a | R24b |
| Jun 30 2020 | n/a | n/a | R18b |
| Mar 31 2020 | n/a | n/a | R18b |
| Dec 31 2019 | R15m | R5m | R18b |
Compensation vs Market: Craig's total compensation ($USD2.78M) is about average for companies of similar size in the ZA market ($USD3.40M).
Compensation vs Earnings: Craig's compensation has increased by more than 20% in the past year.
CEO
Craig Miller (52 yo)
2.6yrs
Tenure
R46,334,531
Compensation
Mr. Craig W. Miller, B.Com, CA(SA)., serves as CEO at Valterra Platinum Limited (formerly known as Anglo American Platinum Limited) since October 01, 2023. He had been Chief Financial Officer Valterra Plat...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 2.6yrs | R46.33m | 0.0025% ZAR 8.8m | |
| CFO, Controller & Executive Director | 2.7yrs | R18.14m | 0.00074% ZAR 2.6m | |
| Executive Head of Corporate Development | no data | R14.21m | no data | |
| Executive Head of Marketing | 3.8yrs | R28.13m | no data | |
| Executive Head of People & Organization | 4.8yrs | R16.24m | no data | |
| Executive Head of Corporate Affairs & Sustainability | 1.1yrs | R16.44m | no data | |
| Executive Head of Processing Operations | 3.2yrs | R16.95m | no data | |
| Executive Head of Mining Operations | 1.3yrs | R43.53m | no data | |
| Head of Investor Relations | no data | no data | no data | |
| Head of Legal | 1.3yrs | no data | no data | |
| Head of Employee Relations | no data | no data | no data | |
| Head of Protection Services | no data | no data | no data |
2.6yrs
Average Tenure
51.5yo
Average Age
Experienced Management: VAL's management team is considered experienced (2.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 7.1yrs | R46.33m | 0.0025% ZAR 8.8m | |
| CFO, Controller & Executive Director | 2yrs | R18.14m | 0.00074% ZAR 2.6m | |
| Independent Non-Executive Director | 1.3yrs | R1.27m | no data | |
| Independent Non-Executive Director | 2.6yrs | R1.37m | no data | |
| Independent Non-Executive Chairman | 7.6yrs | R4.00m | no data | |
| Independent Non-Executive Director | 1.3yrs | R894.80k | no data | |
| Independent Non-Executive Director | less than a year | R1.06m | no data | |
| Independent Non-Executive Director | 5.8yrs | R1.32m | no data | |
| Independent Non-Executive Director | 3.1yrs | R1.72m | no data | |
| Lead Independent Director | 3.1yrs | R2.33m | no data | |
| Independent Non-Executive Director | 3.1yrs | R1.87m | no data | |
| Independent Non-Executive Director | 1.3yrs | R879.95k | no data |
2.8yrs
Average Tenure
62.5yo
Average Age
Experienced Board: VAL's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/02 04:16 |
| End of Day Share Price | 2026/04/30 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 |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* 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
Valterra Platinum Limited is covered by 26 analysts. 10 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 |
|---|---|
| Gerhard Engelbrecht | Absa Bank Limited |
| Richard Hart | Arqaam Capital Research Offshore S.A.L. |
| Sebastian Bell | Avior Capital Markets |