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Anglo American Platinum
(OTC:ANGPY)
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Rating:75Outperform
Price Target:
$16.50
▲(13.32% Upside)
Action:Reiterated
Date:08/28/26
The score is driven primarily by solid financial quality and balance-sheet strength, supported by a constructive technical uptrend. Valuation further boosts the outlook with a low P/E and high dividend yield. The main constraint is cyclical variability in profitability and free cash flow.
Positive Factors
Integrated PGM Operations
The integrated operating model captures value across mining, processing and refining while providing exposure to several PGM markets. This diversified production base can support customer reach and reduce reliance on a single metal or end-use application.
Negative Factors
Commodity-Cycle Exposure
Dependence on PGM prices, production levels and metal mix creates substantial earnings variability. Margin compression during weaker conditions can persist across several quarters, making long-term profitability less predictable than the recent recovery suggests.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated PGM Operations
The integrated operating model captures value across mining, processing and refining while providing exposure to several PGM markets. This diversified production base can support customer reach and reduce reliance on a single metal or end-use application.
Read all positive factors
Anglo American Platinum (ANGPY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.28B
Dividend Yield6.82%
Average Volume (3M)78.43K
Price to Earnings (P/E)10.3
Beta (1Y)1.04
Revenue Growth69.07%
EPS Growth2875.81%
CountryUS
Employees20,158
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)22.60
Shares Outstanding1,591,721,400
10 Day Avg. Volume17,856
30 Day Avg. Volume78,426
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)3.71
Price to Sales (P/S)3.39
P/FCF Ratio32.36
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.34
Revenue Forecast (FY)$9.01B
Anglo American Platinum Business Overview & Revenue Model
Company Description
Valterra Platinum Ltd. functions as a holding company primarily engaged in the provision of platinum group metals (PGMs). The firm's expertise spans the acquisition and distribution of these critical elements, including palladium, platinum, rhodiu...
How the Company Makes Money
Anglo American Platinum makes money primarily by producing and selling platinum group metals and related by-products. Its revenue model is centered on (1) mining: extracting PGM-bearing ore from its operations; (2) processing and refining: concent...
Anglo American Platinum Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Feb 22, 2027
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial narrative: revenue and EBITDA growth, substantial cost savings, a swing to net cash, robust free cash flow and generous shareholder returns. These positives were supported by tangible operational improvements (Mogalakwena efficiencies, processing optimizations, project progress at Sandsloot/Der Brochen) and sustainability credentials. Headwinds included two workplace fatalities, weather/flood impacts (Amandelbult), input cost inflation, one-off demerger costs, some inventory/volume adjustments and localized cash access issues at Unki. Overall, the achievements and outlook materially outweigh the challenges, yielding a favorable view of the company’s trajectory while noting targeted risks to monitor.Positive Updates
Successful De-merger and Listings
Completed demerger from Anglo American and secondary listing on the London Stock Exchange; Anglo American fully divested remaining minority interest, enabling a simplified stand-alone operating structure and reconstituted Board.
Negative Updates
Workplace Fatalities
Two work-related fatalities occurred in 2025 (Unki and Amandelbult sites). Company reports TRIFR improved 11% to the lowest level in its history, but fatalities remain a significant negative event and focus area.
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Q4-2025 Updates
Positive
Negative
Successful De-merger and Listings
Completed demerger from Anglo American and secondary listing on the London Stock Exchange; Anglo American fully divested remaining minority interest, enabling a simplified stand-alone operating structure and reconstituted Board.
Read all positive updates
Company Guidance
Guidance summary: For 2026 the group targets M&C/refined production of about 3.0–3.4Moz (Mogalakwena maintained at ~0.9–1.0Moz), Amandelbult expected to recover ~25%, group all‑in sustaining cost guidance is ~US$1,050/3E oz (assumes ZAR17/USD) after 2025 AISC of US$987/3E oz (US$1,039 including life‑extension capital), cash operating unit cost guidance ZAR19,000–20,000/PGM oz (2025: ZAR19,488), and total capital expenditure of ZAR17–18bn (sustaining ZAR12.5bn; discretionary ZAR4.5–5bn); Sandsloot work is budgeted within the envelope with project spend guidance ~ZAR1.5–2.5bn and prefeasibility indicating a 10–50% uplift in Mogalakwena volumes and 10–20% cost reduction, the company targets net debt/EBITDA <1x (ended 2025 with ZAR11.5bn net cash, ZAR20bn sustaining free cash flow and ZAR43bn liquidity headroom), customer prepayment ~ZAR12.8bn (contract through 2027 under renegotiation), ZAR5bn of cost savings delivered in 2025 with a further ZAR1–1.5bn targeted for 2027 (ZAR18bn total cost & capital savings over 24 months), and a balanced capital allocation that returned ~ZAR12bn of dividends in 2025 (~ZAR45/sh total; final dividend ~ZAR11.5bn or ~ZAR43/sh) while retaining a 40% headline‑earnings base dividend policy.Anglo American Platinum Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
82
Very Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 151.54B | 107.74B | 108.99B | 124.58B | 164.09B | 214.57B |
| Gross Profit | 52.92B | 26.45B | 18.22B | 21.01B | 70.51B | 105.11B |
| EBITDA | 58.91B | 31.93B | 18.60B | 24.87B | 73.17B | 113.41B |
| Net Income | 35.54B | 14.28B | 7.06B | 13.04B | 49.15B | 78.98B |
Balance Sheet | ||||||
| Total Assets | 184.73B | 170.50B | 170.94B | 169.22B | 176.91B | 180.15B |
| Cash, Cash Equivalents and Short-Term Investments | 27.92B | 16.59B | 24.48B | 24.68B | 31.64B | 56.77B |
| Total Debt | 3.30B | 5.27B | 8.66B | 7.63B | 458.00M | 612.00M |
| Total Liabilities | 76.60B | 71.66B | 68.83B | 69.18B | 79.95B | 77.80B |
| Stockholders Equity | 107.71B | 98.45B | 101.74B | 99.61B | 96.78B | 102.21B |
Cash Flow | ||||||
| Free Cash Flow | 40.98B | 11.28B | 7.86B | -4.34B | 28.46B | 82.86B |
| Operating Cash Flow | 57.82B | 27.32B | 26.83B | 16.55B | 45.36B | 96.49B |
| Investing Cash Flow | -16.17B | -15.62B | -17.61B | -16.30B | -10.96B | -9.84B |
| Financing Cash Flow | -25.20B | -18.43B | -8.33B | -7.75B | -57.52B | -57.81B |
Anglo American Platinum Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $8.94B | 7.68 | 27.66% | 3.33% | 67.75% | 122.36% | |
80 Outperform | $13.29B | 39.56 | 12.98% | 0.09% | 51.13% | 399.24% | |
75 Outperform | $23.28B | 10.33 | 35.19% | 6.82% | 69.07% | 2875.81% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | $1.20B | 13.96 | 13.47% | 0.61% | 47.73% | ― | |
58 Neutral | $8.95B | 8.95 | 34.68% | 2.48% | 59.20% | ― |
* Basic Materials Sector Average
ANGPY
Anglo American Platinum
14.82
6.01
68.32%
BVN
Compania de Minas Buenaventura SAA
34.04
14.07
70.46%
HL
Hecla Mining Company
19.78
8.03
68.35%
MUX
McEwen Mining
19.53
5.39
38.12%
SBSW
Sibanye Stillwater
12.54
3.92
45.48%
SSMR
Sunshine Silver Mining & Refining Co.
16.92
-0.23
-1.34%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.