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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Anglo American Platinum Limited    AMS   ZAE000013181

ANGLO AMERICAN PLATINUM LIMITED

(AMS)
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Amplats first-half profit falls as pandemic, processing shutdown weigh

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07/27/2020 | 04:25am EDT
FILE PHOTO: A cow is seen near the AngloAmerican sign board outside the Mogalakwena platinum mine in Mokopane

Anglo American Platinum (Amplats) reported on Monday a 7% fall in half-year profit, hurt by the impact of the new coronavirus on output and the temporary shutdown of its processing facilities.

The Johannesburg-listed miner, one of the world's largest platinum producers, said headline earnings per share (HEPS) for the six months to June 30 fell to 26.27 rand per share compared with 28.15 rand a year earlier.

HEPS is the main profit measure used in South Africa that strips out certain once-off items.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to 13.1 billion rand (618.26 million pounds) from 12.4 billion rand in the year ago period, driven by higher metals prices.

The precious metals producer said it expected output to improve in the second half of the year despite production of platinum group metals (PGM) down 25% year-on-year to 1.6 million ounces due to shutdowns in South Africa and Zimbabwe.

"We expect to see a stronger production performance in H2 2020, but caution that significant headwinds still exist," said Amplats CEO Natascha Viljoen.

Viljoen, who was appointed CEO in April, said output capacity levels were around 80% by the end of June and expected it to increase to above 95% by the end of the year boosted by open-pit and mechanised mines.

"We expect a recovery in 2021, though ongoing social-distancing measures and the possibility of further COVID-19-related shutdowns means output is unlikely to return to its previous level, particularly from underground operations," the company said.

Mining companies in South Africa are anxious about managing COVID-19 and preventing outbreaks at mine sites where workers are in close quarters and confined spaces.

(Reporting by Tanisha Heiberg; Editing by Alex Richardson and Emelia Sithole-Matarise)


Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLATINUM LIMITED -3.21% 1224.35 End-of-day quote.-6.35%
ANGLO AMERICAN PLC -5.68% 1796.4 Delayed Quote.-12.91%
DOW JONES AFRICA TITANS 50 INDEX -3.09% 465.74 Delayed Quote.-10.35%
DOW JONES SOUTH AFRICA(ZAR) -3.45% 1614.99 Delayed Quote.-7.38%
GOLD -1.77% 1878.87 Delayed Quote.25.38%
PLATINUM -1.76% 871.522 Delayed Quote.-9.13%
S&P AFRICA 40 INDEX -3.52% 153.31 Delayed Quote.-8.23%
SILVER -5.14% 23.365 Delayed Quote.36.26%
THE PLATINUM GROUP PUBLIC COMPANY LIMITED 0.00% 2.02 End-of-day quote.-50.49%
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Financials
Sales 2020 133 B 8 121 M 8 121 M
Net income 2020 28 942 M 1 769 M 1 769 M
Net cash 2020 31 714 M 1 939 M 1 939 M
P/E ratio 2020 11,8x
Yield 2020 4,09%
Capitalization 315 B 19 565 M 19 285 M
EV / Sales 2020 2,14x
EV / Sales 2021 1,60x
Nbr of Employees 22 601
Free-Float 21,2%
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Technical analysis trends ANGLO AMERICAN PLATINUM LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 1 348,63 ZAR
Last Close Price 1 224,35 ZAR
Spread / Highest target 40,4%
Spread / Average Target 10,2%
Spread / Lowest Target -12,2%
EPS Revisions
Managers
NameTitle
Natascha Viljoen Chief Executive Officer
Norman Bloe Mbazima Chairman
Craig Miller Finance Director & Director
Gordon Smith Executive Head-Technical
Richard Matthew Wingfield Dunne Independent Non-Executive Director
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