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    AMS   ZAE000013181

ANGLO AMERICAN PLATINUM LIMITED

(AMS)
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AA Platinum 3Q Production Fell 2%; Cuts 2020 Refined Production View

10/22/2020 | 03:10am EDT

By Jaime Llinares Taboada

Anglo American Platinum Ltd. on Thursday reported lower third-quarter production compared with the same period in 2019, and cut its full-year guidance for refined production and sales volumes.

The South African miner, which is majority-owned by Anglo American PLC, said that its production of platinum-group metals--which includes platinum, palladium, rhodium, iridium, ruthenium and gold--declined 2% to 1.11 million ounces for the three months ended Sept. 30. This was largely driven by a 23% decline in volumes at its joint operations, due to the impact of the coronavirus pandemic and security stoppages at the Modikwa site in South Africa--where Anglo American reported a fatality during the period.

Sales volumes were up 6% at 1.22 million ounces. This was mainly driven by a threefold increase in trading, which offset a 16% decline in sales from operations.

AA Platinum improved its full-year production guidance to 3.6 million-3.8 million platinum group metal ounces from 3.1 million-3.6 million ounces previously.

However the group cut its expectations for refined production to 3.1 million-3.3 million ounces, the lower half of its previous guidance range, due to operational issues at its Anglo Converter Plant. Sales volumes expectations were also revised down to 3.1 million-3.3 million ounces from the previous view of 3.1 million-3.6 million ounces.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

10-22-20 0309ET

Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLATINUM LIMITED -1.33% 1631.53 End-of-day quote.13.05%
ANGLO AMERICAN PLC -1.18% 2963.5 Delayed Quote.22.23%
DOW JONES AFRICA TITANS 50 INDEX -0.60% 540.37 Delayed Quote.2.64%
DOW JONES SOUTH AFRICA(ZAR) 0.00% 1945.26 Delayed Quote.10.30%
PALLADIUM -1.02% 2778 Delayed Quote.12.09%
PLATINUM -0.01% 1126.746 Delayed Quote.8.73%
S&P AFRICA 40 INDEX -0.66% 175.81 Delayed Quote.2.30%
THE PLATINUM GROUP 0.00% 3.3 End-of-day quote.34.15%
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Financials
Sales 2021 242 B 17 298 M 17 298 M
Net income 2021 84 026 M 5 997 M 5 997 M
Net cash 2021 65 257 M 4 657 M 4 657 M
P/E ratio 2021 5,13x
Yield 2021 11,8%
Capitalization 428 B 31 165 M 30 529 M
EV / Sales 2021 1,50x
EV / Sales 2022 1,51x
Nbr of Employees 22 601
Free-Float 21,0%
Chart ANGLO AMERICAN PLATINUM LIMITED
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Anglo American Platinum Limited Technical Analysis Chart | AMS | ZAE000013181 | MarketScreener
Technical analysis trends ANGLO AMERICAN PLATINUM LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 2 065,10 ZAR
Last Close Price 1 631,53 ZAR
Spread / Highest target 71,6%
Spread / Average Target 26,6%
Spread / Lowest Target -14,2%
EPS Revisions
Managers and Directors
NameTitle
Natascha Viljoen Chief Executive Officer & Executive Director
Craig Miller Finance Director & Executive Director
Norman Bloe Mbazima Non-Executive Chairman
Chris Mccleave Executive Head-Technical
John Meadway Vice Independent Non-Executive Director
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