Northam Platinum Holdings (NPH) Stock Overview
Through its subsidiary, Northam Platinum Limited, engages in the production and sale of platinum group metals. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 5/6 |
| Past Performance | 4/6 |
| Financial Health | 6/6 |
| Dividends | 2/6 |
Rewards
Risk Analysis
NPH Community Fair Values
Create NarrativeSee what 21 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Materials opportunity
ST
Fair Value from
CA$5.0768.0% undervalued intrinsic discount
An Undervalued 3.3Moz Gold Project in Canada
Key takeaways Upside Gold is developing the Kena Gold Project, near the town of Nelson in the Kootenays region of southern British Columbia. Kena hosts a historical gold resource of 3.33 million ounces (561,000 ounces Indicated and 2.77 million ounces Inferred) across a 10,200-hectare land package.
Read full narrativeNortham Platinum Holdings Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | R356.93 |
| 52 Week High | R474.45 |
| 52 Week Low | R123.71 |
| Beta | 0.93 |
| 1 Month Change | -1.88% |
| 3 Month Change | -0.23% |
| 1 Year Change | 173.30% |
| 3 Year Change | 112.47% |
| 5 Year Change | 50.79% |
| Change since IPO | 1,471.50% |
Recent News & Updates
Narrative Update • Apr 20
NPH: Higher Required Returns Will Pressure Optimistic Margin And P/E Assumptions
Analysts have raised their price target on Northam Platinum Holdings from ZAR131.11 to ZAR270.00, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples, along with a more positive stance in recent Street research. Analyst Commentary Even with a higher price target framework on Northam Platinum Holdings, not all research has been uniformly positive.
Narrative Update • Apr 06
NPH: Higher Discount Rate And Strong Output Will Support Bullish Repricing
Analysts have kept their ZAR 490.00 price target for Northam Platinum Holdings unchanged, while adjusting key inputs such as a higher discount rate, lower revenue growth and profit margin assumptions, and a higher future P/E. These changes reflect updated research that incorporates a more constructive stance from recent Street commentary.
Narrative Update • Mar 23
NPH: Upgraded View Will Rely On Higher Margins And Production Delivery
Analysts have revised their price target on Northam Platinum Holdings from ZAR 434.94 to ZAR 400.94. This reflects updated views on revenue growth, margins and future P/E multiples following recent research that has become more positive on the shares overall.Recent updates
Narrative Update • Apr 20
NPH: Higher Required Returns Will Pressure Optimistic Margin And P/E Assumptions
Analysts have raised their price target on Northam Platinum Holdings from ZAR131.11 to ZAR270.00, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples, along with a more positive stance in recent Street research. Analyst Commentary Even with a higher price target framework on Northam Platinum Holdings, not all research has been uniformly positive.Narrative Update • Apr 06
NPH: Higher Discount Rate And Strong Output Will Support Bullish Repricing
Analysts have kept their ZAR 490.00 price target for Northam Platinum Holdings unchanged, while adjusting key inputs such as a higher discount rate, lower revenue growth and profit margin assumptions, and a higher future P/E. These changes reflect updated research that incorporates a more constructive stance from recent Street commentary.Narrative Update • Mar 23
NPH: Upgraded View Will Rely On Higher Margins And Production Delivery
Analysts have revised their price target on Northam Platinum Holdings from ZAR 434.94 to ZAR 400.94. This reflects updated views on revenue growth, margins and future P/E multiples following recent research that has become more positive on the shares overall.Narrative Update • Mar 09
NPH: Constructive HSBC Upgrade Will Support Higher Margins And Earnings Quality
Narrative Update Analysts have lifted their price target for Northam Platinum Holdings from ZAR396.94 to ZAR434.94, citing updated assumptions around discount rates, revenue growth, profit margins and a revised future P/E, along with a more constructive stance in recent research such as the HSBC upgrade. Analyst Commentary Recent research has focused on how revised assumptions around discount rates, revenue growth, profit margins and future P/E feed into the updated valuation for Northam Platinum Holdings.Narrative Update • Feb 22
NPH: Higher P/E Outlook And Strong Output Will Support Bullish Repricing
Analysts have maintained their ZAR490.00 price target for Northam Platinum Holdings, citing a slightly lower discount rate, small increases in assumed revenue growth and profit margins, and a higher future P/E expectation following more positive recent research commentary. Analyst Commentary Recent commentary has reinforced the ZAR490.00 price target, with bullish analysts pointing to a mix of valuation support, improved assumptions and a more constructive view on the company’s earnings profile.Narrative Update • Feb 08
NPH: Higher Margin Outlook Will Support Repriced Bullish Thesis
Analysts have raised their fair value estimate for Northam Platinum Holdings from R230.00 to R490.00, citing updated assumptions on revenue growth, profit margin, and future P/E following recent bullish research updates. Analyst Commentary Recent bullish research updates have pushed Northam Platinum Holdings further onto the radar of investors who focus on valuation reset stories.Narrative Update • Jan 25
NPH: Constructive Research Stance Will Support Higher P/E While Risks Remain
Narrative Update The analyst fair value estimate for Northam Platinum Holdings has shifted from R290.06 to R396.94 per share. Analysts attribute this change to updated assumptions around revenue growth, profit margin and future P/E multiples following recent research that has become more constructive on the stock.Narrative Update • Jan 10
NPH: Higher P/E Assumptions Will Limit Future Upside Despite Firm Margins
Analysts have nudged their price target for Northam Platinum Holdings higher to R290.06 from R283.06, reflecting updated assumptions around discount rates, margins, and future P/E expectations. Valuation Changes Fair Value: Updated slightly higher from R283.06 to R290.06 per share.Narrative Update • Dec 16
NPH: Higher Required Returns Will Constrain Future Upside Despite Stronger Margins
Analysts have raised their price target for Northam Platinum Holdings by roughly R8 to R283.06, citing slightly stronger expected revenue growth, improved profit margins, and a modestly lower future price earnings multiple, despite a small uptick in the discount rate. Valuation Changes Fair Value: Raised slightly from ZAR 274.94 to ZAR 283.06 per share, reflecting a modest uplift in the intrinsic valuation.Narrative Update • Dec 02
NPH: Rising Discount Rate Will Limit Upside Despite Margin Improvement
Northam Platinum Holdings' analyst price target has been modestly adjusted downward from R280.19 to R274.94. Analysts cite slightly lower revenue growth expectations, despite improvements in projected profit margins.Narrative Update • Nov 18
NPH: Dividend Increase And Higher Margins Will Balance Revenue Uncertainty
Northam Platinum Holdings’ analyst price target has been raised slightly from R276.44 to R280.19. This reflects analysts’ confidence in improved future profit margins despite a more moderate revenue growth outlook.Narrative Update • Nov 03
NPH: Dividend Increase And Steady Margins Will Offset Elevated Discount Rate
Analysts have raised their price target for Northam Platinum Holdings from R261.44 to R276.44. This reflects increased conviction in the company's fair value, despite a slight uptick in the assumed discount rate and future price-to-earnings ratio.Narrative Update • Oct 20
South African PGM Risks Will Spark Renewable Upside
Analysts have raised their price target for Northam Platinum Holdings from R236.71 to R261.44, citing modest improvements in estimated fair value and revenue growth projections. What's in the News The board has declared a final gross cash dividend of 200.0 cents per share for 2025, up from 70.0 cents per share the previous year.Narrative Update • Oct 05
South African PGM Risks Will Spark Renewable Upside
Analysts have raised their price target for Northam Platinum Holdings from R206 to R236.71. This reflects improved profit margin forecasts, even though expectations for revenue growth have been slightly tempered.Narrative Update • Sep 20
South African PGM Risks Will Spark Renewable Upside
Upward revisions to revenue growth forecasts and a substantial decline in the future P/E multiple have driven a modest increase in Northam Platinum Holdings' consensus price target to ZAR206.00. What's in the News Northam Platinum Holdings declared a final gross cash dividend of 200.0 cents per share for 2025, up from 70.0 cents per share in 2024, totaling approximately ZAR 800.2 million.Narrative Update • Aug 27
By 2029, Increased Chrome Production Will Diversify Revenue Streams
Northam Platinum Holdings' consensus price target increased to ZAR186.43, reflecting improved profitability with a higher net profit margin and a slightly lower forward P/E multiple. What's in the News Zondereinde mine exceeded production guidance with 330,769 oz 4E refined metal, up from 328,513 oz 4E.
New Narrative • Feb 10
Zondereinde 3 Shaft And Eland Developments Will Strengthen Future Operations
Expansion in production capacity and processing efficiency is set to enhance revenue by reducing per-unit costs and improving production throughput.Shareholder Returns
| NPH | ZA Metals and Mining | ZA Market | |
|---|---|---|---|
| 7D | 11.5% | 10.0% | 3.6% |
| 1Y | 173.3% | 84.8% | 27.6% |
Return vs Industry: NPH exceeded the ZA Metals and Mining industry which returned 84.8% over the past year.
Return vs Market: NPH exceeded the ZA Market which returned 27.6% over the past year.
Price Volatility
| NPH volatility | |
|---|---|
| NPH Average Weekly Movement | 9.4% |
| Metals and Mining Industry Average Movement | 8.7% |
| Market Average Movement | 4.9% |
| 10% most volatile stocks in ZA Market | 11.1% |
| 10% least volatile stocks in ZA Market | 3.3% |
Stable Share Price: NPH's share price has been volatile over the past 3 months compared to the ZA market.
Volatility Over Time: NPH's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of ZA stocks.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2020 | 14,172 | Paul Dunne | www.northam.co.za |
Northam Platinum Holdings Limited, through its subsidiary, Northam Platinum Limited, engages in the production and sale of platinum group metals. It operates through four segments: Zondereinde mine, Booysendal mine, Eland mine, and the US recycling operations. The company explores for platinum, palladium, rhodium, gold, iridium, ruthenium, silver, nickel, copper, cobalt, and chrome deposits.
Northam Platinum Holdings Limited Fundamentals Summary
| NPH fundamental statistics | |
|---|---|
| Market cap | R142.71b |
| Earnings (TTM) | R9.17b |
| Revenue (TTM) | R41.62b |
15.3x
P/E Ratio3.4x
P/S RatioIs NPH overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| NPH income statement (TTM) | |
|---|---|
| Revenue | R41.62b |
| Cost of Revenue | R31.62b |
| Gross Profit | R10.00b |
| Other Expenses | R824.56m |
| Earnings | R9.17b |
Last Reported Earnings
Dec 31, 2025
Next Earnings Date
Aug 28, 2026
| Earnings per share (EPS) | 23.29 |
| Gross Margin | 24.02% |
| Net Profit Margin | 22.04% |
| Debt/Equity Ratio | 30.3% |
How did NPH perform over the long term?
See historical performance and comparisonDividends
2.5%
Current Dividend Yield39%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/08 16:27 |
| End of Day Share Price | 2026/05/08 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/06/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Northam Platinum Holdings Limited is covered by 21 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Gerhard Engelbrecht | Absa Bank Limited |
| Richard Hart | Arqaam Capital Research Offshore S.A.L. |
| Sebastian Bell | Avior Capital Markets |