Described as a 'genuine cashflow company,' the miner extracts metals such as platinum and palladium.
Shares in Sylvania Platinum , a little-known London-listed miner, are set to rise by 50%, according to Ben Davis, mining analyst at Liberum Capital. The company, which extracts metals such as platinum, palladium, and chrome, also offers an 8% dividend yield. Shares in the company were trading around £1 Friday, but Davis sees them hitting £1.50 in 12 months. The stock is already up over 13% this year, handsomely beating the benchmark FTSE All-Share index, which is nearly flat at 0.42%.
"Sylvania's cash balances continue to swell to new highs of $139m, giving the company plenty of firepower for both dividends and potential growth projects," Davis wrote in a note Oct. 31. The company extracts platinum-group metals through recovery and retreatment, which means they are either a by-product of a larger mining company's operations or extracted through the recycling of goods such as old cars.
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