Merafe Resources (MRF.JO) Stock Price

Merafe Resources Price

JSE·CLOSED
131.00ZAR-2.00 (-1.52 %)
Market closed

Revenue has compounded at 14.8% per year over the past 19 years to 8.44 B ZAR. Earnings per share have grown at 12.2% per year over the last 19 years. Merafe Resources's net margin stands at 7.9%, up from -21.0% several years earlier. Merafe Resources currently offers a dividend yield of about 0.32%. The payout ratio is around 157% of earnings. The dividend has grown at 24.3% per year over the past 14 years. Analysts set a median price target of 1.33 ZAR, implying 99.0% below the current price. Of 5 analysts, 4 rate the stock a buy — an overall Buy consensus. The stock trades about 30% above its 52-week low.

Merafe Resources stock price

Volume
Ex-Dividend
Details

Stock Price

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How to Read This Chart

This chart tracks the historical stock price of Merafe Resources over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how Merafe Resources stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing Merafe Resources's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

Merafe Resources Stock Price History
DateMerafe Resources Price
8/4/2026131.00 ZAR
7/31/2026133.00 ZAR
7/30/2026134.00 ZAR
7/29/2026133.00 ZAR
7/28/2026127.00 ZAR
7/27/2026130.00 ZAR
7/24/2026124.00 ZAR
7/23/2026126.00 ZAR
7/22/2026126.00 ZAR
7/21/2026125.00 ZAR
7/20/2026123.00 ZAR
7/17/2026123.00 ZAR
7/16/2026125.00 ZAR
7/15/2026127.00 ZAR
7/14/2026124.00 ZAR
7/13/2026125.00 ZAR
7/10/2026122.00 ZAR
7/9/2026123.00 ZAR
7/8/2026126.00 ZAR
7/7/2026128.00 ZAR
7/6/2026128.00 ZAR
7/3/2026129.00 ZAR
7/2/2026128.00 ZAR
7/1/2026128.00 ZAR
6/30/2026132.00 ZAR
6/29/2026128.00 ZAR
6/26/2026129.00 ZAR
6/25/2026128.00 ZAR
6/24/2026128.00 ZAR
6/23/2026131.00 ZAR
6/22/2026131.00 ZAR
6/19/2026126.00 ZAR
6/18/2026127.00 ZAR
6/17/2026128.00 ZAR
6/15/2026132.00 ZAR
6/12/2026134.00 ZAR
6/11/2026135.00 ZAR
6/10/2026133.00 ZAR
6/9/2026133.00 ZAR
6/8/2026133.00 ZAR
6/5/2026133.00 ZAR
6/4/2026130.00 ZAR
6/3/2026133.00 ZAR
6/2/2026132.00 ZAR
6/1/2026128.00 ZAR
5/29/2026125.00 ZAR
5/28/2026123.00 ZAR
5/27/2026123.00 ZAR
5/26/2026123.00 ZAR
5/25/2026125.00 ZAR
5/22/2026124.00 ZAR
5/21/2026124.00 ZAR
5/20/2026122.00 ZAR
5/19/2026123.00 ZAR
5/18/2026124.00 ZAR
5/15/2026124.00 ZAR
5/14/2026125.00 ZAR
5/13/2026120.00 ZAR
5/12/2026122.00 ZAR
5/11/2026119.00 ZAR
5/8/2026117.00 ZAR
5/7/2026113.00 ZAR
5/6/2026115.00 ZAR
5/5/2026116.00 ZAR
5/4/2026114.00 ZAR
4/30/2026115.00 ZAR
4/29/2026113.00 ZAR
4/28/2026116.00 ZAR
4/24/2026113.00 ZAR
4/23/2026114.00 ZAR
4/22/2026115.00 ZAR
4/21/2026117.00 ZAR
4/20/2026114.00 ZAR
4/17/2026112.00 ZAR
4/16/2026113.00 ZAR
4/15/2026114.00 ZAR
4/14/2026114.00 ZAR
4/13/2026113.00 ZAR
4/10/2026111.00 ZAR
4/9/2026110.00 ZAR
4/8/2026111.00 ZAR
4/7/2026114.00 ZAR
4/2/2026110.00 ZAR
4/1/2026111.00 ZAR
3/31/2026111.00 ZAR
3/30/2026116.00 ZAR
3/27/2026116.00 ZAR
3/26/2026116.00 ZAR
3/25/2026115.00 ZAR
3/24/2026115.00 ZAR
3/23/2026116.00 ZAR
3/20/2026119.00 ZAR
3/19/2026120.00 ZAR
3/18/2026120.00 ZAR
3/17/2026117.00 ZAR
3/16/2026120.00 ZAR
3/13/2026119.00 ZAR
3/12/2026120.00 ZAR
3/11/2026120.00 ZAR
3/10/2026120.00 ZAR
3/9/2026120.00 ZAR
3/6/2026116.00 ZAR
3/5/2026119.00 ZAR
3/4/2026114.00 ZAR
3/3/2026113.00 ZAR
3/2/2026117.00 ZAR
2/27/2026118.00 ZAR
2/26/2026120.00 ZAR
2/25/2026118.00 ZAR
2/24/2026120.00 ZAR
2/23/2026125.00 ZAR
2/20/2026118.00 ZAR
2/19/2026117.00 ZAR
2/18/2026118.00 ZAR
2/17/2026118.00 ZAR
2/16/2026116.00 ZAR
2/13/2026117.00 ZAR
2/12/2026117.00 ZAR
2/11/2026113.00 ZAR
2/10/2026114.00 ZAR
2/9/2026114.00 ZAR
2/6/2026114.00 ZAR
2/5/2026112.00 ZAR
2/4/2026114.00 ZAR
2/3/2026117.00 ZAR
2/2/2026113.00 ZAR
1/30/2026114.00 ZAR
1/29/2026114.00 ZAR
1/28/2026114.00 ZAR
1/27/2026112.00 ZAR
1/26/2026113.00 ZAR
1/23/2026115.00 ZAR
1/22/2026113.00 ZAR
1/21/2026113.00 ZAR
1/20/2026111.00 ZAR
1/19/2026112.00 ZAR
1/16/2026111.00 ZAR
1/15/2026112.00 ZAR
1/14/2026111.00 ZAR
1/13/2026111.00 ZAR
1/12/2026112.00 ZAR
1/9/2026113.00 ZAR
1/8/2026104.00 ZAR
1/7/2026106.00 ZAR
1/6/2026106.00 ZAR
1/5/2026109.00 ZAR
1/2/2026108.00 ZAR
12/31/2025109.00 ZAR
12/30/2025109.00 ZAR
12/29/2025108.00 ZAR
12/24/2025109.00 ZAR
12/23/2025107.00 ZAR
12/22/2025106.00 ZAR
12/19/2025105.00 ZAR
12/18/2025102.00 ZAR
12/17/2025102.00 ZAR
12/15/2025101.00 ZAR
12/12/2025102.00 ZAR
12/11/2025101.00 ZAR
12/10/2025105.00 ZAR
12/9/2025109.00 ZAR
12/8/2025110.00 ZAR
12/5/2025108.00 ZAR
12/4/2025107.00 ZAR
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12/1/2025107.00 ZAR
11/28/2025109.00 ZAR
11/27/2025109.00 ZAR
11/26/2025111.00 ZAR
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11/24/2025111.00 ZAR
11/21/2025111.00 ZAR
11/20/2025112.00 ZAR
11/19/2025110.00 ZAR
11/18/2025110.00 ZAR
11/17/2025113.00 ZAR
11/14/2025111.00 ZAR
11/13/2025110.00 ZAR
11/12/2025113.00 ZAR
11/11/2025111.00 ZAR
11/10/2025111.00 ZAR
11/7/2025113.00 ZAR
11/6/2025113.00 ZAR
11/5/2025111.00 ZAR
11/4/2025110.00 ZAR
11/3/2025110.00 ZAR
10/31/2025110.00 ZAR
10/30/2025110.00 ZAR
10/29/2025112.00 ZAR
10/28/2025112.00 ZAR
10/27/2025111.00 ZAR
10/24/2025112.00 ZAR
10/23/2025112.00 ZAR
10/22/2025112.00 ZAR
10/21/2025111.00 ZAR
10/20/2025112.00 ZAR
10/17/2025109.00 ZAR
10/16/2025110.00 ZAR
10/15/2025113.00 ZAR
10/14/2025111.00 ZAR
10/13/2025112.00 ZAR
10/10/2025112.00 ZAR
10/9/2025112.00 ZAR
10/8/2025112.00 ZAR
10/7/2025112.00 ZAR
10/6/2025117.00 ZAR
10/3/2025114.00 ZAR
10/2/2025114.00 ZAR
10/1/2025108.50 ZAR
9/30/2025107.00 ZAR
9/29/2025109.00 ZAR
9/26/2025106.00 ZAR
9/25/2025110.00 ZAR
9/23/2025104.00 ZAR
9/22/2025102.00 ZAR
9/19/2025103.00 ZAR
9/18/2025102.00 ZAR
9/17/2025105.00 ZAR
9/16/2025107.00 ZAR
9/15/2025108.00 ZAR
9/12/2025109.00 ZAR
9/11/2025104.00 ZAR
9/10/2025104.00 ZAR
9/9/2025101.00 ZAR
9/8/2025102.00 ZAR
9/5/2025104.00 ZAR
9/4/2025105.00 ZAR
9/3/2025107.00 ZAR
9/2/2025109.00 ZAR
9/1/2025109.00 ZAR
8/29/2025109.00 ZAR
8/28/2025108.00 ZAR
8/27/2025107.00 ZAR
8/26/2025110.00 ZAR
8/25/2025106.00 ZAR
8/22/2025105.00 ZAR
8/21/2025105.00 ZAR
8/20/2025105.00 ZAR
8/19/2025107.00 ZAR
8/18/2025109.00 ZAR
8/15/2025109.00 ZAR
8/14/2025108.00 ZAR
8/13/2025112.00 ZAR
8/12/2025119.00 ZAR
8/11/2025120.00 ZAR
8/8/2025121.00 ZAR
8/7/2025117.00 ZAR
8/6/2025120.00 ZAR
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Merafe Resources Revenue, EBIT, Net Income

  • 3 Years

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  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2022
7.94 B ZAR
1.85 B ZAR
1.41 B ZAR
Jan 1, 2023
9.24 B ZAR
1.95 B ZAR
1.75 B ZAR
Jan 1, 2024
8.44 B ZAR
1.35 B ZAR
667.21 M ZAR
Jan 1, 2025 (e)
5.10 B ZAR
988.65 M ZAR
624.78 M ZAR
Jan 1, 2026 (e)
6.80 B ZAR
1.32 B ZAR
124.96 M ZAR
Jan 1, 2027 (e)
9.93 B ZAR
1.92 B ZAR
824.71 M ZAR
Jan 1, 2028 (e)
10.61 B ZAR
2.06 B ZAR
1.12 B ZAR
Jan 1, 2029 (e)
11.60 B ZAR
2.25 B ZAR
0.00 ZAR

Merafe Resources Income Statement, Balance Sheet, Cash Flow Statement

Last updated Aug 5, 2026, 3:37 PM
 
REVENUEB ZAR
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEB ZAR
EBITB ZAR
EBIT MARGIN%
NET INCOMEB ZAR
NET INCOME GROWTH%
DIV.ZAR
DIV. GROWTH%
SHARESB
201420152016201720182019202020212022202320242025e2026e2027e2028e2029e
3.614.435.705.895.615.384.788.067.949.248.445.106.809.9310.6111.60
3.2022.6928.753.28-4.79-4.05-11.1468.66-1.5316.44-8.67-39.5733.2046.126.879.31
44.6436.3828.2627.3628.7429.9533.7019.9820.2917.4319.0857.9357.9357.9357.9357.93
1.611.611.611.611.611.611.611.611.611.611.612.963.945.756.156.72
0.350.470.881.370.80-0.070.072.221.851.951.350.991.321.922.062.25
9.7810.5015.4523.2714.23-1.361.5527.4923.3321.0515.9519.3619.3619.3819.3719.37
0.210.340.530.910.68-1.36-1.001.671.411.750.670.620.120.821.12–
41.7260.2855.1071.80-25.27-299.27-26.30-266.80-15.7224.26-61.93-6.45-80.13564.5236.41–
0.020.020.020.070.170.120.080.140.340.330.420.120.130.15––
–––250.00142.86-29.41-33.3375.00142.86-2.9427.27-71.438.3315.38––
2.522.512.512.512.512.512.512.512.502.502.502.502.502.502.502.50
Details

Income Statement Key Figures

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Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales Merafe Resources generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue Merafe Resources retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare Merafe Resources's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares Merafe Resources has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against Merafe Resources's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

Merafe Resources stock margins

The Merafe Resources margin analysis displays the gross margin, EBIT margin, as well as the profit margin of Merafe Resources. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for Merafe Resources.

  • 3 Years

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Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2020
57.94 %
1.55 %
-20.98 %
Jan 1, 2021
57.94 %
27.49 %
20.76 %
Jan 1, 2022
57.94 %
23.34 %
17.76 %
Jan 1, 2023
57.94 %
21.06 %
18.96 %
Jan 1, 2024
57.94 %
15.96 %
7.90 %
Jan 1, 2025 (e)
57.94 %
19.38 %
12.25 %
Jan 1, 2026 (e)
57.94 %
19.38 %
1.84 %
Jan 1, 2027 (e)
57.94 %
19.38 %
8.30 %

Merafe Resources Stock Revenue, EBIT, Earnings per Share

The Merafe Resources earnings per share therefore indicates how much revenue Merafe Resources has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.

  • 3 Years

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  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2020
1.90 ZAR
0.03 ZAR
-0.40 ZAR
Jan 1, 2021
3.22 ZAR
0.88 ZAR
0.67 ZAR
Jan 1, 2022
3.18 ZAR
0.74 ZAR
0.56 ZAR
Jan 1, 2023
3.70 ZAR
0.78 ZAR
0.70 ZAR
Jan 1, 2024
3.38 ZAR
0.54 ZAR
0.27 ZAR
Jan 1, 2025 (e)
2.04 ZAR
0.40 ZAR
0.25 ZAR
Jan 1, 2026 (e)
2.72 ZAR
0.53 ZAR
0.05 ZAR
Jan 1, 2027 (e)
3.97 ZAR
0.77 ZAR
0.33 ZAR

Merafe Resources business model & stock analysis

Merafe Resources Ltd is a South African company that was founded in 2005 and is headquartered in Sandton. It is a leading producer of ferrochrome in South Africa and one of the world's largest producers of chromite minerals used in the production of stainless steel and other alloys. The company is listed on the Johannesburg Stock Exchange and the London Stock Exchange, with a market capitalization of approximately ZAR 2.2 billion (about USD 160 million). Merafe Resources also has a partnership with Glencore Xstrata, one of the world's largest mining companies. Merafe Resources operates several divisions focusing on the exploration, development, and production of chromite and ferrochrome minerals. These divisions operate mines near Rustenburg in the North West Province, South Africa. The company's main activity is the production of ferrochrome made from chromite minerals. Ferrochrome is an alloying agent used in various applications such as construction, automotive industry, and electrical appliances. Merafe Resources also has a division for chromite minerals that mines and sells chrome ore. Chromite minerals are used in the production of stainless steel and other alloys. The company's chromite minerals division operates four mines all located near Rustenburg. Another division of Merafe Resources is the Baobab division, which operates a coal and chromite mine in Mozambique. This project is still in the development phase and is expected to play a significant role in the production of chromite minerals and coal in the coming years. Merafe Resources' business model is based on collaboration with Glencore Xstrata, a company active in mining and the commodity industry. Merafe Resources holds a 20.5% stake in Samancor Chrome Limited, a joint venture with Glencore Xstrata involved in the production of ferrochrome. Merafe Resources also focuses on improving efficiency and product quality to increase margins in the company. The company has a comprehensive quality assurance system to ensure that products meet customer requirements. Additionally, the company invests in new technologies and processes to enhance efficiency and productivity while minimizing environmental impact. Overall, Merafe Resources is a leading producer of ferrochrome and chromite minerals in South Africa and globally. Thanks to its collaboration with Glencore Xstrata and investments in new technologies and processes, the company is well-positioned to remain competitive and benefit from global demand and supply conditions.

Merafe Resources SWOT Analysis

Strengths

Merafe Resources Ltd has several key strengths that contribute to its success. Firstly, the company has a strong portfolio of mining assets, which include a significant stake in the Glencore-Merafe Chrome Venture. This provides Merafe with a steady source of revenue and a competitive edge in the chrome industry. Additionally, the company benefits from strong partnerships with global mining giants, allowing for knowledge sharing, technical expertise, and access to international markets. Furthermore, Merafe is known for its commitment to sustainable mining practices and social responsibility, enhancing its reputation and brand image.

Weaknesses

Despite its strengths, Merafe Resources Ltd faces some weaknesses that may hinder its growth. One notable weakness is its dependence on the performance of the chrome market. Fluctuations in chrome prices can significantly impact the company's financial results. Moreover, Merafe's geographical concentration in South Africa exposes it to potential political and regulatory risks. Additionally, the company may face challenges in maintaining cost efficiency and managing operational risks associated with mining.

Opportunities

Merafe Resources Ltd can leverage several opportunities to expand its business and increase its market share. One major opportunity lies in the growing demand for chrome in industries such as stainless steel production, chemical manufacturing, and automotive components. By capturing these emerging markets, Merafe can gain a competitive advantage and achieve revenue growth. Additionally, the company can explore strategic alliances or acquisitions to expand its asset base and diversify its product offerings. Moreover, the increasing focus on sustainable practices in the mining industry presents an opportunity for Merafe to showcase its commitment and attract environmentally conscious customers.

Threats

Merafe Resources Ltd must remain vigilant and address potential threats that could negatively impact its business. One significant threat is the volatility of global commodity prices, including chrome. Fluctuations in prices can lead to lower profitability and financial instability. Moreover, increasing competition in the mining industry poses a threat to Merafe's market position, potentially leading to price wars and margin erosion. Furthermore, the company could face social and environmental opposition to its mining activities, which may result in delays, regulatory hurdles, or reputational damage.

Merafe Resources Eulerpool Fair Value

Details

Fair Value Estimate

ⓘ

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

Merafe Resources historical P/E ratio, EBIT multiple, and P/S ratio

Merafe Resources annual returns

Details

Annual Return

ⓘ

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

Merafe Resources shares outstanding

The number of shares of Merafe Resources was 2.5 B in 2025. This indicates how many shares Merafe Resources is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.

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  • 25 Years

  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2020
2.51 B Stocks
Jan 1, 2021
2.51 B Stocks
Jan 1, 2022
2.50 B Stocks
Jan 1, 2023
2.50 B Stocks
Jan 1, 2024
2.50 B Stocks
Jan 1, 2025 (e)
2.50 B Stocks
Jan 1, 2026 (e)
2.50 B Stocks
Jan 1, 2027 (e)
2.50 B Stocks

Merafe Resources Dividend History

14 years of dividend payments

YearAnnual DividendYoY ChangePayments
20250.12ZAR↓ 71.4%2×
Apr 2, 20250.08ZAR↓ 60.0%1/2
Sep 3, 20250.04ZAR↓ 50.0%2/2
20240.42ZAR↑ 27.3%2×
20230.33ZAR↓ 2.9%2×
20220.34ZAR↑ 385.7%2×
20210.07ZAR↑ 75.0%1×
20200.04ZAR↓ 33.3%1×
20190.06ZAR↓ 64.6%1×
20180.17ZAR↑ 142.4%2×
20170.07ZAR↑ 251.8%2×
20160.02ZAR↑ 10.6%2×

Merafe Resources dividend history and estimates

In 2025, Merafe Resources paid a dividend amounting to 0.12 ZAR. Dividend means that Merafe Resources distributes a portion of its profits to its owners.

  • Max

Dividend
Dividend (Estimate)
Details
Date
Dividend
Dividend (Estimate)
Jan 1, 2020 (e)
0.04 ZAR
0.04 ZAR
Jan 1, 2021 (e)
0.07 ZAR
0.07 ZAR
Jan 1, 2022
0.34 ZAR
0.00 ZAR
Jan 1, 2023
0.33 ZAR
0.00 ZAR
Jan 1, 2024
0.42 ZAR
0.00 ZAR
Jan 1, 2025
0.12 ZAR
0.00 ZAR
Jan 1, 2026 (e)
0.00 ZAR
0.13 ZAR
Jan 1, 2027 (e)
0.00 ZAR
0.15 ZAR

Merafe Resources dividend payout ratio

In 2025, Merafe Resources had a payout ratio of 48.00%. The payout ratio indicates the percentage of the company's profits that Merafe Resources distributes as dividends.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2020
-10.01 %
Jan 1, 2021
10.48 %
Jan 1, 2022
60.26 %
Jan 1, 2023
47.05 %
Jan 1, 2024
157.30 %
Jan 1, 2025 (e)
48.00 %
Jan 1, 2026 (e)
267.32 %
Jan 1, 2027 (e)
45.11 %

Current Merafe Resources forecasts and price targets in August 2026

Analyst Price Targets 2026
Δ MOM Price Target
7.14 %
Buy
80.00 % (4)
Hold
20.00 % (1)
Sell
0.00 % (0)
12M Price Target
1.33
Last Price
131.00
Currency
ZAR
12M Return Potential
-98.99 %
LTM Return
0 %

Merafe Resources Earnings Estimates & Surprises

DateEPS estimateEPS ActualRevenue EstimatePrice reactionQuarterly report
3/18/20240.19ZAR-3.74 BZAR-2023 Q4
8/21/20230.14ZAR-3.65 BZAR-2023 Q2
3/20/20230.18ZAR-3.93 BZAR-2022 Q4
8/23/20220.25ZAR-4.02 BZAR-2022 Q2
3/22/20220.19ZAR-3.88 BZAR-2021 Q4
8/10/20210.16ZAR-2.98 BZAR-2021 Q2
3/8/20210.02ZAR-2.29 BZAR-2020 Q4
9/8/2020-0.04ZAR-2.40 BZAR-2020 Q2
3/9/2020-0.01ZAR-2.38 BZAR-2019 Q4
8/5/20190.10ZAR-2.84 BZAR-2019 Q2

EESG©

Eulerpool ESG Scorecard© for the Merafe Resources stock

39/100
20
Environment
76
Social
20
Governance
E

Environment

20
Scope 1 - Direct Emissions—
Scope 2 - Indirect emissions from purchased energy—
Scope 3 - Indirect emissions within the value chain—
Total CO₂ emissions—
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather—
Pesticides—
Palm Oil—
Tobacco
Genetically modified organisms
Climate concept—
Sustainable forestry—
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees63
Percentage of women in management—
Percentage of Asian employees—
Share of Asian management—
Percentage of Hispanic/Latino employees—
Hispano/Latino Management share—
Percentage of Black employees88
Black Management Share—
Percentage of white employees12
White Management Share—
Adult content
Alcohol
Weapons—
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept—
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

Merafe Resources shareholder structure

% Name
2.33100%
Allan Gray Proprietary Limited
Allan Gray Proprietary Limited
0.86524%
Dimensional Fund Advisors, L.P.
Dimensional Fund Advisors, L.P.
0.78322%
North of South Capital LLP
North of South Capital LLP
0.10761%
Ninety One SA Pty Ltd.
Ninety One SA Pty Ltd.
0.08905%
Dimensional Fund Advisors, Ltd.
Dimensional Fund Advisors, Ltd.
0.01595%
American Century Investment Management, Inc.
American Century Investment Management, Inc.

Merafe Resources Beneficial Ownership Filings (SEC 13D/G)

Free Float
48.9%
Float Shares
-
Shares Outstanding
-

Merafe Resources Executives and Management Board

10 members · avg. age 54 · 30 % women

ZM

Ms. Zanele Matlala (61)

Chief Executive Officer, Executive Director · since 2005

22.53 M ZAR

Management

WS

Mr. William Somerville (67)

Company Secretary

–

Board of Directors

DC

Mr. Ditabe Chocho (54)

Finance Director, Executive Director · since 2013

12.47 M ZAR
NM

Mrs. Nonhlanhla Mabusela-Aikhuere (49)

Independent Non-Executive Director

606,000.00 ZAR
MV

Ms. Matsotso Vuso (51)

Independent Non-Executive Director

578,000.00 ZAR
JM

Mr. Jeffery Mclaughlan (66)

Independent Non-Executive Director

498,000.00 ZAR
KT

Mr. Katlego Tlale (39)

Independent Non-Executive Director

487,000.00 ZAR
DG

Mr. Daniel Green (37)

Non-Independent Non-Executive Director

434,000.00 ZAR

Frequently asked questions about Merafe Resources

Merafe Resources Ltd operates in the mining industry, specifically in the field of ferrochrome production. As a leading integrated ferrochrome producer, Merafe Resources plays a crucial role in the supply chain of this essential alloy used in stainless steel production. The company owns and operates a large percentage of the Glencore-Merafe Chrome Venture, which includes interests in various chrome mines and smelters in South Africa. Merafe Resources focuses on maintaining a sustainable business model by ensuring operational efficiency, cost control, and maintaining strong relationships with industry stakeholders. Their commitment to quality, safety, and environmental responsibility further strengthens their position as a prominent player in the ferrochrome industry.

Merafe Resources Ltd is primarily active in the mining industry.

The main competitors of Merafe Resources Ltd in the market are other mining and processing companies operating in the ferrochrome industry. Some notable competitors include Ferroglobe PLC, Samancor Chrome, Hernic Ferrochrome, Assmang Ltd, and Glencore International AG. These companies also engage in the exploration, extraction, and sale of ferrochrome products. Merafe Resources Ltd faces competition in terms of production capacity, product quality, technological advancements, and market share. Continuous innovation, efficient operations, and strategic partnerships allow Merafe Resources Ltd to stay competitive in the industry.

Merafe Resources Ltd is a South African mining company, founded in 2001. It operates as a mining and smelting entity, primarily focused on the production of ferrochrome. Merafe Resources Ltd holds a 20.5% stake in the Glencore-Merafe Chrome Venture, which operates several Chrome mines in South Africa. Over the years, Merafe Resources Ltd has positioned itself as a key player in the global ferrochrome industry, delivering high-quality products to customers worldwide. With a strong track record and continuous growth, Merafe Resources Ltd remains committed to sustainable mining practices and contributing to the economic development of South Africa.

Merafe Resources Ltd has achieved several significant milestones in its operation. The company successfully established itself as a leading producer of ferrochrome in South Africa. It formed a joint venture with Glencore Operations South Africa (Pty) Ltd, known as the Glencore-Merafe Chrome Venture, which became one of the world's largest ferrochrome producers. Merafe Resources Ltd expanded its operations and diversified its product portfolio, demonstrating strong growth and ensuring a competitive edge in the market. The company's commitment to sustainable mining practices and maintaining strong partnerships with stakeholders further contribute to its continued success and development.

Merafe Resources Ltd is primarily present in South Africa.

Merafe Resources Ltd is a leading company in the mining and minerals industry. Their core values and corporate philosophy revolve around responsible mining practices and sustainable development. Merafe Resources Ltd is committed to delivering value to its shareholders while ensuring the well-being and safety of its workforce. They prioritize environmental stewardship and community engagement, aiming to create positive impacts in the areas they operate. Merafe Resources Ltd focuses on building successful partnerships and maintaining ethical business practices. Transparency and accountability are central to their operations, promoting trust and long-term relationships with stakeholders. Through innovation and continuous improvement, Merafe Resources Ltd strives to remain an industry leader with a strong commitment to sustainability.

Analysts currently set an average price target of 1.33 ZAR for the Merafe Resources stock (median: 1.33 ZAR), implying -99.0 % versus the latest price. The consensus is based on 5 analyst ratings.

Merafe Resources Analyst Price Targets 2026

5 analysts currently rate the Merafe Resources stock: 4 recommend buying, 1 holding and 0 selling. For 2026, analysts expect Merafe Resources to generate revenue of 6.80 B ZAR and earnings per share of 0.05 ZAR.

Merafe Resources Analyst Price Targets 2026

Converted at the current exchange rate, the Merafe Resources share trades at 6.93 EUR (131.00 ZAR).

The Merafe Resources share (MRF.JO) is listed on 2 stock exchanges, including: Frankfurt (RZT.F).

Merafe Resources Ltd is a leading mining company based in South Africa, mainly involved in the production of chromite and ferrochrome. The company operates in the mining, refining, and marketing of chrome products. Merafe Resources is one of the leading producers of chromite in South Africa, as it has access to some of the best chromite deposits in the country. The focus is on producing high-quality ferrochrome, primarily used in stainless steel production. The company works closely with joint venture partner Glencore and holds a 20.5% stake in Glencore's ferrochrome division. This partnership has provided Merafe with access to one of the world's largest chrome mines, enabling the company to increase its production and strengthen its competitive position. Merafe Resources is able to offer high-quality ferrochrome at a competitive price, thanks to its well-developed infrastructure and continuous modernization and improvement of its production facilities. The company also has a distribution department responsible for exporting ferrochrome to Europe, Asia, and America. Additionally, Merafe Resources collaborates with leading stainless steel manufacturers worldwide to ensure that customers receive the right quality and appearance of ferrochrome needed for their production. Merafe Resources is also active in chromite ore production and processing, as it holds a stake in the Merafe-Monde Mine joint venture with Xstrata, which supplies high-quality chromite for the production of ferrochrome and other chrome-based products. Furthermore, the company also has a stake in a project exploring platinum group metals in the Bushveld Mineral Province in South Africa. Overall, Merafe Resources' business model is focused on chromite as the main product and ferrochrome as the primary output. The company has a strong partnership with Glencore and is able to produce and export high-quality products at competitive prices. Merafe Resources is also active in other areas of mineral exploration and processing to further strengthen its competitive position in the industry.

The expected revenue of Merafe Resources is 6.80 B ZAR. This figure is based on current financial data and reflects the company's business performance.

The expected profit of Merafe Resources is 124.96 M ZAR. The net profit reflects the company's profitability after deducting all expenses.

The price-to-earnings ratio (P/E) of Merafe Resources is currently 2,620.00. The P/E ratio compares the current share price to the earnings per share and helps investors assess the valuation of the Merafe Resources stock.

The price-to-sales ratio (P/S) of Merafe Resources is currently 48.17. The P/S ratio compares the market capitalization to the annual revenue and serves as a valuation metric for the Merafe Resources stock.

The Eulerpool Quality Score for Merafe Resources is 3/10.

The ISIN of Merafe Resources is ZAE000060000. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.

The WKN of Merafe Resources is A0DNNZ. The WKN (Wertpapierkennnummer) is a six-digit German security identification number.

The ticker of Merafe Resources is MRF.JO. The ticker symbol is used to trade Merafe Resources shares on the stock exchange.

Over the past 12 months, Merafe Resources paid a dividend of 0.42 ZAR . This corresponds to a dividend yield of about 0.32 %. For the coming 12 months, Merafe Resources is expected to pay a dividend of 0.15 ZAR.

The current dividend yield of Merafe Resources is 0.32 %.

Merafe Resources pays a dividend, distributed in the months of , , , .

Merafe Resources paid dividends every year for the past 12 years.

For the upcoming 12 months, dividends amounting to 0.15 ZAR are expected. This corresponds to a dividend yield of 0.11 %.

Merafe Resources is assigned to the 'Commodities' sector.

To receive the latest dividend of Merafe Resources from amounting to 0.04 ZAR, you needed to have the stock in your portfolio before the ex-date on .

The last dividend was paid out on .

In the year 2025, Merafe Resources distributed 0.42 ZAR as dividends.

The dividends of Merafe Resources are distributed in ZAR.

All fundamentals and in-depth analysis of Merafe Resources

Our stock analysis for Merafe Resources stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of Merafe Resources. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.

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