Share Name Share Symbol Market Type Share ISIN Share Description
Anglo Pacific Group Plc LSE:APF London Ordinary Share GB0006449366 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  -4.80 -3.2% 145.00 13,770 10:56:43
Bid Price Offer Price High Price Low Price Open Price
143.80 145.20 147.20 145.00 145.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 34.01 -27.21 -10.31 310
Last Trade Time Trade Type Trade Size Trade Price Currency
10:41:18 O 44 145.60 GBX

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Date Time Title Posts
30/6/202208:25Anglo Pacific - Coal and a lot more besides.12,036
16/3/202220:24Anglo Pacific - Royalties for a Green Future24
26/1/202211:44Bought More-
24/1/202214:48Coal Prices-
22/1/202219:06Amapa Iron Ore Royalty-

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Anglo Pacific (APF) Most Recent Trades

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Anglo Pacific Daily Update: Anglo Pacific Group Plc is listed in the Mining sector of the London Stock Exchange with ticker APF. The last closing price for Anglo Pacific was 149.80p.
Anglo Pacific Group Plc has a 4 week average price of 140.60p and a 12 week average price of 140.60p.
The 1 year high share price is 192.20p while the 1 year low share price is currently 119.60p.
There are currently 213,480,759 shares in issue and the average daily traded volume is 235,563 shares. The market capitalisation of Anglo Pacific Group Plc is £309,547,100.55.
troc1958: I like the "Latin Mines" guy's approach to Royalty valuation. Doesn't get over complicated. Err's on the conservative. He values Anglo at $596m sum of the parts, equivalent to a 179p share price vs current MCap of $505m at 152p. Agree that some of his valuations are a bit hit and miss particularly Piaui at $10m which seems very low. A lot obviously is dependent on future expected prices of coal and metals and possibly why Anglo price is at a substantial discount to his "conservative" valuation. However given the Queensland coal royalty benefit and potential future Piaui purchase I believe that the downside risk of this company is limited and a lot of negative global economic news is already reflected in the price. I always fear "hidden" skeletons manifesting themselves and knocking the share price. I can't see Anglo having any which have not already been included in the valuation (e.g. Dugbe unlikely to come into production and thus at moment hardly valued at all - 3% of Anglo value). Just my thoughts, but Anglo is one of my bigger holdings.Troc
cocopah: #jonrxx99 I wish I’d had the common sense to get out c£1.70 and be in the position you are in now. The writing was on the wall when they decided to reduce the dividend. I think you’re right that somewhere between where we are now and £1.30 would be a very good entry point. To be fair at the current share price the dividend is attractive. Looking ahead to next year, income is likely to be less so unless there is news of further investments I would imagine the share price will stay around where it is for a while. That’s not to be disparaging about the performance or return, for long-term holders it’s decent, however it isn’t the growth I was expecting in the share price which will probably take a few years with the change in strategy.🤷‍♂️👍🏻😎
cocopah: #The Deacon … the one thing I did get clarity on is that when MBL was pressed about the dividend he was keen to point out what was being paid (7p) and how that compared favourably to other royalty companies. In other words I took a loud and clear message that the dividend will stay where it is. The market will also take that as red. so the only thing that will shift the share price upwards from now on is more acquisitions … and if income drops in the meantime the share price will do so too (obvs that won’t happen this year but who knows after that). I don’t like trading much and was hoping a progressive dividend would allow me to hold APF tong-term benefitting from a gradual rise in the share price as new acquisitions were added. I’ll need to keep a keen eye on the income next year!
cocopah: I, like some on here, whilst not new to investing in APF, am not long-in-the-tooth either. At the price I bought-in my return at 7p is over 5% and whilst of course I could realise the gain and invest at a higher level somewhere else I would also then run the risk of capital erosion in doing so. For that reason I’m quite happy to continue holding with the capital cushion very much in my favour. However I will not be considering purchasing more shares at the current yield and doubt that newbies will be attracted on the same basis. I see the share price stabilising for now, rather than running over £2.00 however I am sure the announcement of more deals might change this dynamic. I’m not sure what being debt-free will mean for the share price if no more deals are announced and the dividend policy stays the same … there’s no catalyst for change. That’s not to say that I don’t agree with the debt being reduced, it is a prudent no-brainer.
the deacon: Having now caught up with the most recent presentation it's clear to me that MBL has committed to growing APF into the go-to diversified /battery metals royalty Co, and this growth will come partly at the expense of a bumper dividend. We've talked about it here before (and Marc said the same thing in the presentation) but APF pay the highest yield of any mining royalty company. Indeed it's more than 2x it's second placed peer, and this is the benchmark he's using for APF. The cash 'saved' from paying a smaller dividend (though still substantial relatively speaking) rather than 5%+ will end up funding further deals that are critical to growing Anglo Pacific. It isn't going to be small deals that result in APF becoming a multi billion dollar diversified version of Franco Nevada. The path to scale requires APF to get involved in big deals like Voiseys Bay. Of course, opportunities to play the long game on quality assets like Piaui are very much worth pursuing, but it's quite clear to me that with Kestrel dropping to 50% or so in 23/24/25 before it drifts away, MBL wants significant assets that are generating cash right now - and they cost a lot more. My takeaway was that APF will no longer be (certainly not for the foreseeable future anyway) that income focused stock that punters have got used to. MLB has set his sights on something a lot bigger, and if he gets it right then APF will be many multiples of where we sit today. Having been invested in many US/Canadian royalty companies, and having witnessed the stellar growth that's achievable I'm personally very supportive of that strategy. However I do appreciate that we all have different outlooks and reasons for investing, and understand this shift in strategy /focus doesn't suit all.
cocopah: #illiswilgig thank you for your fulsome feedback, much appreciated and I agree with your thoughts. Personally I can’t see what will drive the share price much above £2 without (either) more income streams and/or a progressive dividend. As an existing holder I’m happy to sit on my hands for the current divi but wouldn’t invest more … kind of makes my point about why I don’t see the share price going much higher (for now). Investors have equal to better dividend options elsewhere and future share price growth is likely to be constrained partially by the dividend policy, and, (looking forward to next year’s income) contribution, which is likely to be more in line with normal revenues. I think the market has already factored-in the debt reduction to zero and is eyeing the reducing contribution from Kestrel and the compensating growth of VB income, whilst awaiting the 2024 influx from Brazilian nickel. Forgetting wider market moves I think that the share price drift to £1.75 which with a 7p dividend equates to a 4% yield is probably par for the course. We will see but I don’t think anything else will move the needle further. I couldn't and still can't see the rationale for not paying the year-end divi bump ... dividend cover is over 4 times and it wouldn't have derailed the debt reduction or made a material difference to the ability to pay for any new deals. On the other hand it would have supported/driven the share price and rewarded shareholders.
laurence llewelyn binliner: #Cocopops, trying to get entry timing right and second guess the share price trajectory is what it is all about, supported by historic moves and evidence behind those moves, current pricing should be just the start if we look at the past.. 2019 was a big year for us, with GBP59M/USD76M income and the mid year share price around 200 pence, eqv earnings adjusted for todays enlarged share capital would be USD91M.. Now consider we are just about to report USD c50M for Q1 stand alone and have the potential to hit somewhere close to USD200M for FY2022 IF prices remain elevated.. If the EPS is double, the PE halves, so a fairer share price target would be nearer 400 pence..?, debt will be gone in Q3/Q4 and the EV will re rate accordingly.. Like many holders I very much look forward to the Q1 update 27.04.2022, the resulting broker notes, share price move and finding out just how much of the potential gets realised and priced in between now, the Q2 update and H1 financials.. Kestrel income will taper off maybe 50% in 2023 but it is not a cliff edge, if met coal prices hold up Kestrel can pay for the top tier royalty at Piaui so there is still plenty to come IMO.. :o)
cocopah: #LLB The problem with not paying a 9p/10p dividend is that the value doesn’t get locked-in just because there are more retained earnings. A weaker income year in (say) 2023 or 2024 (before the development assets kick in) will result in a lower share price anyway. I’d rather have the jam now and I think there’s more than enough income to support that and the reduction of the debt to zero. It is also highly unlikely that there will be any good deals out there (and investments in a poor deal would hurt the share price anyway). I am hoping for a significant increase in the share price this year and then look to trade it over the next two years as I believe the share price will dip before resuming growth again after (say) 2024. Initially I wanted to hold long-term for the dividend but when/if the share price hits £2.20+ the dividend will be on its way below 3% (which in turn will limit the growth of the share price). I still think it’s a big mistake.🤷205;♂️
laurence llewelyn binliner: There is always room for some selling the news on the Q1 update, but given we are about to report our earnings in the order of USD45-50M for the quarter I would expect the share price to continue to re-rate to somewhere in line with a sensible PE, the Q2/H1 results could well be even stronger with prices are holding up.. This mornings spike was most likely driven by a lot of year end Bed and Isa trades already set to trigger, along with some new ISA money coming in.. Our 2018 earnings of GBP49M (USD65M) were reported late Jan 2019 [edit], after which the share price rose from 145p to a high of 225p over 5 months with 180M shares in issue.. The 2019 record earnings of GBP57M/USD75M did not rally the share as Covid landed shortly after results January 2020 and the share price slumped. We have just reported earnings for 2021 of USD86M (GPB64M), adjusting for the +20% dilution since and we are about the same EPS.. We are about to report a Q1 the same as FY2020 income when the share price was just 100 pence.. IF prices remain strong 2022 income has every chance of being double 2018/2019.
cocopah: #LLB The share price might hit the sweet spot and it might not, however it is likely that commodity prices (met coal in particular) will not continue to soar and will likely retrace at some point this coming year. The bottom line is, if I’m not going to be rewarded by a significant rise in the share price and the forward return is <4% then I’m caught in no-man’s land (along with a lot of other investors). I’m not sure that the languishing share price of the last year was down to anything but waiting for promised income to be realised and communicated (IMHO APF was/is still too small a market cap to get thorough broker analysis). If the new CEO had indicated that at least some divi progression would be in his plans after H2 then I’d be more convinced to continue to hold long-term … but he was clear that this is not on the cards. No complaints on my returns to date, however anything over £2.20 per share will provide me with a handsome return on my investment (with little potential for significant further upside) … but why would I then hold for a divi of 3.11% on that share price, when I could reinvest for a reasonably safe 5% elsewhere, having doubled my capital?🤷205;♂️
Anglo Pacific share price data is direct from the London Stock Exchange
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