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    AMS   ZAE000013181

ANGLO AMERICAN PLATINUM LIMITED

(AMS)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 09/27
1330.73 ZAR   -2.60%
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Kumba Iron Ore hikes interim dividend after earnings jump

07/27/2021 | 05:08am EDT
To match Feature SAFRICA-KUMBA/EMPOWERMENT

JOHANNESBURG (Reuters) -South African miner Kumba Iron Ore reported a nearly three-fold increase in interim earnings on Tuesday and hiked its dividend payout, as higher iron ore prices and increased production boosted profit.

The company, a unit of Anglo American, raised its interim dividend to 72.70 rand from 19.60 rand per share a year ago, equalling 100% of its headline earnings,

Anglo American Platinum (Amplats), another Anglo American group subsidiary, also declared a record interim dividend of 175 rand per share on Monday after half-year earnings soared on the back of higher metals prices.

Johannesburg-listed Kumba reported a jump in diluted headline earnings per share of 178% to 72.56 rand for the six months ended on June 30, up from 26.13 rand a year earlier.

"We have earned effectively the equivalent of what we have earned in the whole of last year in just six months," Kumba's chief executive Themba Mkhwanazi said during a call.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the half-year jumped 155% to 44.4 billion rand ($3 billion), with the company closing with net cash of 40.7 billion rand.

Kumba recorded an average realised export price increase of 137% driven by supply disruptions and a recovery in China's economy, and expected iron ore prices to remain supported but grow at a slower pace compared with the first half.

Kumba said production rose 12% during the period to 20.4 million tonnes, despite above-average rainfall affecting operations and logistics in the Northern Cape region home to its mines.

The miner cut its annual sales guidance by 1 million tonnes to between 39.5 to 40.5 million tonnes due to potential impact from weather, logistics disruptions and a maintenance shutdown in the second half of the year.

($1=14.8003 rand)

(Reporting by Tanisha Heiberg; Editing by Clarence Fernandez and Joe Bavier)


ę Reuters 2021
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Analyst Recommendations on ANGLO AMERICAN PLATINUM LIMITED
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Financials
Sales 2021 215 B 14 224 M 14 224 M
Net income 2021 75 064 M 4 960 M 4 960 M
Net cash 2021 53 118 M 3 510 M 3 510 M
P/E ratio 2021 4,54x
Yield 2021 20,0%
Capitalization 341 B 22 610 M 22 522 M
EV / Sales 2021 1,34x
EV / Sales 2022 1,27x
Nbr of Employees 22 839
Free-Float 21,0%
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Anglo American Platinum Limited Technical Analysis Chart | AMS | ZAE000013181 | MarketScreener
Technical analysis trends ANGLO AMERICAN PLATINUM LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 1 330,73 ZAR
Average target price 1 895,63 ZAR
Spread / Average Target 42,5%
EPS Revisions
Managers and Directors
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