August 19, 2022

One to look at: Polymetal Worldwide set to launch full-year figures – what subsequent for traders within the Anglo-Russian miner?

Polymetal shares have fallen 43% this week

All eyes will likely be on Polymetal Worldwide when the Anglo-Russian miner releases its full-year figures on Wednesday. 

The gold and silver mining group has dedicated to releasing the outcomes as deliberate – although in mild of the battle in Ukraine traders and analysts will likely be way more targeted on the corporate’s outlook than the chilly exhausting numbers from 2021. 

Shares have fallen 50 per cent this 12 months, together with 43 per cent this week alone.

Polymetal has sought to reassure its backers that its mines in Russia and Kazakhstan are persevering with to function as regular and that it has not been affected by the warfare or sanctions. 

It additionally stated it’s already contingency planning, deciding on tools suppliers and securing gross sales channels that may hold enterprise working easily. Whether or not it will all nonetheless be the case in just a few days’ time is anyone’s guess. 

Both manner, Wednesday will likely be an uncommon and excessive check of shareholders’ mettle. 

In sensible phrases, traders will likely be eager to know what kind of prices is likely to be added to the FTSE100 group’s spending in 2022. In 2021 it was already grappling with larger prices. 

See also  Russian companies Evraz and Polymetal face boot from FTSE as shares dive 

Susannah Streeter, senior funding and markets analyst at Hargreaves Lansdown, stated: ‘Covid absences and likewise a rise in capital expenditure has seen prices mount up.’ 

Regardless of producing barely extra gold than the 12 months earlier than – round 1.7million ounces – falling valuable metals costs have added extra pressure. 

Whereas Polymetal and its friends benefited in 2020, when Covid chaos despatched gold costs hovering, it’s on the again foot in contrast with industrial metals miners whose supplies are in excessive demand.