A forward PE of 3.
If management improves the current dividend policy of distributing only 10% of net profit after tax, fair value, based on HEPS vs an equity risk premium of 50% above the prime rate, fair value is R42.92
A single trade of 800 000 shares at R15.00 went through this morning. That's typical of institutional backing.
“The fundamentals of the global stainless steel market remain sound with continued growth forecast in 2017, further supporting strong demand for chrome units in the form of ferrochrome and chrome ores,” said Tharisa CEO, Phoevos Pouroulis in July 2017.
120 000 shares traded at R18.00 between 13h34 and 13h41 today-a 20% gain in 6 trading days.