The pole is the largest Russian gold miner, one of the largest in the world (in terms of the volume of raw materials it takes 4th place in the world).
Since April, the company's shares have been falling strongly. This is due to both a decrease in the cost of gold in dollars, and with the strengthening of the ruble.
Of course, this is primarily due to the strengthening of the ruble, since the pole is tied to the dollar, despite the fact that most of the gold is still delivered to Russia. In general, if the dollar rate falls, then the gold rate also falls.
• EPS - 1283% in 7 years;
• ROE - 64.6% (average in the sector - 40.04%).
Key advantages of the company:
The company's revenue will grow about 2 times, and gold will also grow up in price. That is, the potential of the pole is very good. In average, the company will grow by 15% per year.
Also, the pole pays dividends. With the current value of shares, the dividend yield is slightly more than 7% per annum. A rather interesting dividend profitability, given that gold miners are not a particularly dividend industry.
Of the gold miners, you can still allocate polymetall. But the pole is more attractive to me now. I bought it another 10,000 rubles, then the shares were adjusted to 8,000 rubles. And I plan to buy them about 7,800 rubles (if we return to these levels again).
Of course, the descending trend is still preserved. With a high probability, we will still reach the level of 6,700 rubles, since there were very large volumes for sale. Ideally, of course, it is better to buy at this level (-20% of current values).
If everything is very bad in general, and the gold will fall, then we will fall to the level of 5,300 rubles, but this is something from the field of fantasy.
However, the pole has a number of risks, as in the entire gold mining industry in Russia. First of all, these are sanctions on gold miners. The last fall occurred precisely because of them.
But these sanctions are still not particularly striking on them, since the main buyer is the Central Bank of the Russian Federation and friendly countries.
But there is a much more important problem - this is our Central Bank, it can establish any course of purchase of gold, according to which gold miners are required to sell gold.
For example, from March to June, the Central Bank set a gold course of 5,000 rubles. And the pole and polymetall sold gold to the central jar at a low price. Since, at that time, the dollar rate was much higher, therefore, the gold rate was around 7,000 rubles.
Accordingly, in the case of a sharp devaluation of the ruble, the Central Bank can establish a fixed exchange rate of gold, and gold miners in this situation will lose.
Therefore, keep in your head that the pole will not protect you in the event of an uncontrolled ruble devaluation.
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