Impala Platinum Holdings (IMP.JO)
Materials · JSE · South Africa
Fundamentals
Valuation and ratings
Impala Platinum Holdings trades at R179.12, which is 96% below the R351.12 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 43 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 19.9 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Impala Platinum Holdings
Impala Platinum Holdings Limited engages in the mining, concentrating, refining, and sells of platinum group metals (PGMs) and associated base metals in South Africa, Zimbabwe, and Canada. The company produces platinum, palladium, rhodium, nickel, and by-products, as well as ruthenium, iridium, and gold. It has mining operations on the Bushveld Complex located in South Africa; and the Great Dyke situated in Zimbabwe, as well as the Canadian Shield. The company was incorporated in 1957 and is based in Illovo, South Africa.
IMP.JO passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Impala Platinum Holdings (IMP.JO) undervalued?
Against our discounted cash flow estimate of R351.12, IMP.JO at R179.12 is 96% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is IMP.JO's P/E ratio?
IMP.JO trades at 19.9 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for IMP.JO, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.