Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Polymetal International plc
  6. News
  7. Summary
    POLY   JE00B6T5S470

POLYMETAL INTERNATIONAL PLC

(POLY)
  Report
Delayed London Stock Exchange  -  11:35 2022-09-23 am EDT
194.00 GBX   -3.00%
09/23MARKETSCREENER'S WORLD PRESS REVIEW : September 23, 2022
MS
09/22Polymetal International plc - Half-year report for the six month ended 30 June 2022
AQ
09/22Polymetal - Offer to exchange certain shares currently affected by the EU asset freeze on NSD and Notice of General Meeting
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Polymetal shares down as gold miner scraps final dividend

09/22/2022 | 06:24am EDT
Small toy figure and gold imitation are seen in front of the Polymetal logo in this illustration

*

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, Sept 22 (Reuters) - Russian gold and silver producer Polymetal said on Thursday it had decided to cancel the final dividend for 2021 and recommended no interim dividend payment for 2022 due to lower cash flows, sending its shares in London down 11%.

Polymetal has not been directly targeted by Western sanctions imposed on Moscow since it sent thousands of troops to Ukraine in February.

However, its net earnings adjusted for impairment and rouble fluctuations fell to $203 million in January-June from $422 million a year ago with lower sales, the miner said in a statement. It also raised its forecast for 2022 production costs.

Future dividend payments will depend on the company's ability to unblock part the 22% of its shares frozen in the sanctions-hit Russian National Settlement Depository (NSD), Polymetal said. Owners of the shares held via NSD, Russia's domestic paying agent, are unable to receive dividends now.

For these investors, Polymetal proposed exchanging the shares from electronic to certificated form, the miner said, adding this option would not solve the problem for holders of 11% of the shares due to sanctions restrictions on Moscow and retaliatory Moscow restrictions.

Polymetal also said the idea of a business restructuring, which could focus it on its assets in Kazakhstan and spin off the Russian ones, had been hit by Moscow's August decree to freeze sale of certain Russian assets, including gold mining firms, if they are controlled by residents of "unfriendly" countries - unless a special presidential approval is granted.

To ease the process, the miner is currently considering changing the jurisdiction of the parent company - Polymetal International Plc - from Jersey to a "friendly" territory, it said. No final decision has been made. (Reporting by Polina Devitt Editing by Mark Potter)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GOLD -1.76% 1643 Delayed Quote.-8.56%
NSD CO., LTD. 0.48% 2490 Delayed Quote.19.14%
POLYMETAL INTERNATIONAL PLC -3.00% 194 Delayed Quote.-85.21%
S&P GSCI GOLD INDEX -1.52% 963.9035 Real-time Quote.-8.11%
SILVER -4.14% 18.852 Delayed Quote.-15.57%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 1.42% 57.675 Delayed Quote.-20.07%
All news about POLYMETAL INTERNATIONAL PLC
09/23MARKETSCREENER'S WORLD PRESS REVIEW : September 23, 2022
MS
09/22Polymetal International plc - Half-year report for the six month ended 30 June 2022
AQ
09/22Polymetal - Offer to exchange certain shares currently affected by the EU asset freeze ..
AQ
09/22BOE Raises rates Again, Cuts Inflation Expectations
DJ
09/22Pound Rises Before Likely BOE Rate Rise But Seen Vulnerable
DJ
09/22FTSE 100 Drops Ahead of BOE; Weak Earnings Hit JD Sports
DJ
09/22POLYMETAL : Form of Proxy
PU
09/22TRANSCRIPT : Polymetal International plc, H1 2022 Earnings Call, Sep 22, 2022
CI
09/22Polymetal shares down as gold miner scraps final dividend
RE
09/22UK Poorly Positioned to Cope With Rising Interest Rates
DJ
More news
Analyst Recommendations on POLYMETAL INTERNATIONAL PLC
More recommendations
Financials (USD)
Sales 2022 3 156 M - -
Net income 2022 721 M - -
Net Debt 2022 1 750 M - -
P/E ratio 2022 2,41x
Yield 2022 41,2%
Capitalization 1 005 M 1 005 M -
EV / Sales 2022 0,87x
EV / Sales 2023 0,77x
Nbr of Employees 14 281
Free-Float 71,4%
Chart POLYMETAL INTERNATIONAL PLC
Duration : Period :
Polymetal International plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends POLYMETAL INTERNATIONAL PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 2,12 $
Average target price 12,79 $
Spread / Average Target 503%
EPS Revisions
Managers and Directors
Vitaly Natanovich Nesis Chief Executive Officer
Maxim Nazimok Chief Financial Controller
Vitaly Valerevich Savchenko Chief Operating Officer
Giacomo Carlo Baizini Independent Non-Executive Director
Konstantin Periklovich Yanakov Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
POLYMETAL INTERNATIONAL PLC-85.21%1 005
BHP GROUP LIMITED16.32%126 521
RIO TINTO PLC-4.38%86 421
GLENCORE PLC23.10%65 045
SAUDI ARABIAN MINING COMPANY (MA'ADEN)63.82%42 065
ANGLO AMERICAN PLC-11.47%35 441