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Prices & Quotes - UK Markets - Polymetal International (POLY)

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Share Price:
Down 1,653.50p
Change Today:
-0.50p
Market Cap:
7,831m
Sector:
Mining

Polymetal Q3 revenues boosted by heightened gold and silver prices

By Iain Gilbert

Date: Thursday 22 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Mining firm Polymetal posted a 35% increase in third-quarter revenues on Thursday due to rising gold and silver prices throughout the period.
Polymetal said third-quarter revenues had hit $884.0m, up 35% year-on-year, bringing total year-to-date revenues to just over $2.0bn, up 26% on the same period a year earlier.

Gold equivalent production increased 7% year-on-year to 477,000 ounces, driven by strong contributions from the Omolon, Varvara and Kyzyl assets. Year-to-date output reached 1.2m ounces, an increase of 5% on the prior year.

While Polymetal also added that it was on track to meet its full-year 2020 production guidance of 1.5m ounces, the group also cautioned that Covid-related risks were still likely to create an amount of uncertainty.

Chief executive Vitaly Nesis said: "In Q3 the group continued to exceed production budget and generated massive cash flows on the back of a seasonal release of working capital.

"We remain vigilant and focused to protect our employees, contractors, and local communities as the Covid-19 pandemic remains a crucial risk for Polymetal."

The FTSE-250 listed company also reported a record quarterly free cash flow for the three months ended 30 September and reduced its net debt by $80.0m to $1.6bn.

As of 0935 BST, Polymetal shares were up 0.48% at 1,774.50p.

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POLY Market Data

Currency UK Pounds
Price 1,653.50p
Change Today -0.50p
52 Week High 2,050.00p
52 Week Low 1,389.50p
Volume 240,803
Shares Issued 473.58m
Market Cap 7,831m

Performance Indicators

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What The Brokers Say

Strong Buy 10
Buy 1
Neutral 4
Sell 1
Strong Sell 0
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

POLY Dividends

  Latest Previous
  Final Interim
Ex-Div 06-May-21 03-Sep-20
Paid 28-May-21 25-Sep-20
Amount 89.00¢ 40.00¢

Trades for 15-Jun-2021

Time Volume / Share Price
11:19 120 @ 1,653.24p
11:18 9 @ 1,653.00p
11:18 68 @ 1,652.75p
11:17 43 @ 1,653.50p
11:17 54 @ 1,653.50p

POLY Key Personnel

Chair Ian Cockerill