Merafe Resources (MRF.JO) Stock Price

Merafe Resources Price

🇿🇦JSE·CLOSED
133.00ZAR
Market closed
Today +/-
Today %

Merafe Resources (MRF.JO) Stock | ISIN ZAE000060000 | WKN A0DNNZ. The current Merafe Resources stock price is 133 ZAR (2026). Revenue is 6.21 B ZAR. Net income is 883.44 M ZAR. The P/E ratio is 376.24. Market capitalization is 332.38 B ZAR. Merafe Resources operates in the Commodities sector.

Merafe Resources stock price

Ex-Dividend
Details

Stock Price

ⓘ

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
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Merafe Resources Revenue, EBIT, Net Income

  • 3 Years

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Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2005
614.6 M ZAR
103.2 M ZAR
41.7 M ZAR
Jan 1, 2006
1.03 B ZAR
153.3 M ZAR
139.1 M ZAR
Jan 1, 2007
1.66 B ZAR
418.9 M ZAR
240.1 M ZAR
Jan 1, 2008
2.78 B ZAR
1.53 B ZAR
1.03 B ZAR
Jan 1, 2009
1.84 B ZAR
-124.7 M ZAR
-152.3 M ZAR
Jan 1, 2010
2.56 B ZAR
455.8 M ZAR
278.7 M ZAR
Jan 1, 2011
2.43 B ZAR
145.8 M ZAR
116.8 M ZAR
Jan 1, 2012
2.54 B ZAR
99.9 M ZAR
48.9 M ZAR
Jan 1, 2013
3.5 B ZAR
325.9 M ZAR
151.8 M ZAR
Jan 1, 2014
3.61 B ZAR
353.18 M ZAR
214.1 M ZAR
Jan 1, 2015
4.43 B ZAR
465.22 M ZAR
343.46 M ZAR
Jan 1, 2016
5.7 B ZAR
881.49 M ZAR
532.43 M ZAR
Jan 1, 2017
5.89 B ZAR
1.37 B ZAR
914.12 M ZAR
Jan 1, 2018
5.61 B ZAR
798.9 M ZAR
683.42 M ZAR
Jan 1, 2019
5.38 B ZAR
-73.63 M ZAR
-1.36 B ZAR

Merafe Resources Income Statement, Balance Sheet, Cash Flow Statement

Last updated Jun 15, 2026, 4:31 AM
 
REVENUE (B ZAR)
REVENUE GROWTH (%)
GROSS MARGIN (%)
GROSS INCOME (B ZAR)
NET INCOME (B ZAR)
NET INCOME GROWTH (%)
DIV. (ZAR)
DIV. GROWTH (%)
SHARES (B)
DOCUMENTS
202020212022202320242025e2026e2027e
4.788.067.949.248.445.156.216.62
-11.1468.66-1.5316.44-8.67-38.9720.576.49
33.719.9820.2917.4319.0831.2625.9324.35
1.611.611.611.611.611.611.611.61
-11.671.411.750.670.660.880.88
-26.3-266.8-15.7224.26-61.93-1.6534.6–
0.080.140.340.330.420.120.150.15
-33.3375142.86-2.9427.27-71.4325–
2.512.512.52.52.52.52.52.5
––––––––
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.

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Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2005
17.93 %
16.79 %
6.78 %
Jan 1, 2006
17.41 %
14.88 %
13.5 %
Jan 1, 2007
28.37 %
25.3 %
14.5 %
Jan 1, 2008
57.94 %
55.15 %
36.95 %
Jan 1, 2009
57.94 %
-6.78 %
-8.28 %
Jan 1, 2010
57.94 %
17.82 %
10.89 %
Jan 1, 2011
57.94 %
6.01 %
4.81 %
Jan 1, 2012
57.94 %
3.93 %
1.92 %
Jan 1, 2013
57.94 %
9.32 %
4.34 %
Jan 1, 2014
57.94 %
9.79 %
5.93 %
Jan 1, 2015
57.94 %
10.51 %
7.76 %
Jan 1, 2016
57.94 %
15.46 %
9.34 %
Jan 1, 2017
57.94 %
23.27 %
15.52 %
Jan 1, 2018
57.94 %
14.25 %
12.19 %
Jan 1, 2019
57.94 %
-1.37 %
-25.32 %

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.

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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, 2005
0.44 ZAR
0.07 ZAR
0.03 ZAR
Jan 1, 2006
0.44 ZAR
0.07 ZAR
0.06 ZAR
Jan 1, 2007
0.68 ZAR
0.17 ZAR
0.1 ZAR
Jan 1, 2008
1.12 ZAR
0.62 ZAR
0.41 ZAR
Jan 1, 2009
0.75 ZAR
-0.05 ZAR
-0.06 ZAR
Jan 1, 2010
1.03 ZAR
0.18 ZAR
0.11 ZAR
Jan 1, 2011
0.98 ZAR
0.06 ZAR
0.05 ZAR
Jan 1, 2012
1.02 ZAR
0.04 ZAR
0.02 ZAR
Jan 1, 2013
1.4 ZAR
0.13 ZAR
0.06 ZAR
Jan 1, 2014
1.43 ZAR
0.14 ZAR
0.09 ZAR
Jan 1, 2015
1.76 ZAR
0.19 ZAR
0.14 ZAR
Jan 1, 2016
2.27 ZAR
0.35 ZAR
0.21 ZAR
Jan 1, 2017
2.35 ZAR
0.55 ZAR
0.36 ZAR
Jan 1, 2018
2.23 ZAR
0.32 ZAR
0.27 ZAR
Jan 1, 2019
2.14 ZAR
-0.03 ZAR
-0.54 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

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

Merafe Resources annual returns

Details

Annual Return

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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 was Merafe Resources in 2025 — This indicates how many shares 2.499 B 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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  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2005
1.39 B base_Shares
Jan 1, 2006
2.33 B base_Shares
Jan 1, 2007
2.42 B base_Shares
Jan 1, 2008
2.49 B base_Shares
Jan 1, 2009
2.46 B base_Shares
Jan 1, 2010
2.48 B base_Shares
Jan 1, 2011
2.49 B base_Shares
Jan 1, 2012
2.5 B base_Shares
Jan 1, 2013
2.5 B base_Shares
Jan 1, 2014
2.52 B base_Shares
Jan 1, 2015
2.51 B base_Shares
Jan 1, 2016
2.51 B base_Shares
Jan 1, 2017
2.51 B base_Shares
Jan 1, 2018
2.51 B base_Shares
Jan 1, 2019
2.51 B base_Shares

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)
Invalid Date
0.02 ZAR
0.02 ZAR
Invalid Date
0.02 ZAR
0.02 ZAR
Invalid Date
0.01 ZAR
0.01 ZAR
Jan 1, 2015
0.02 ZAR
0 ZAR
Jan 1, 2016
0.02 ZAR
0 ZAR
Jan 1, 2017
0.07 ZAR
0 ZAR
Jan 1, 2018
0.17 ZAR
0 ZAR
Invalid Date
0.06 ZAR
0.06 ZAR
Invalid Date
0.04 ZAR
0.04 ZAR
Invalid Date
0.07 ZAR
0.07 ZAR
Jan 1, 2022
0.34 ZAR
0 ZAR
Jan 1, 2023
0.33 ZAR
0 ZAR
Jan 1, 2024
0.42 ZAR
0 ZAR
Jan 1, 2025
0.12 ZAR
0 ZAR
Invalid Date
0 ZAR
0.15 ZAR

Merafe Resources dividend payout ratio

In 2025, Merafe Resources had a payout ratio of 47.66%. The payout ratio indicates the percentage of the company's profits that Merafe Resources distributes as dividends.

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  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2005
44.36 %
Jan 1, 2006
44.36 %
Jan 1, 2007
44.36 %
Jan 1, 2008
44.36 %
Jan 1, 2009
44.36 %
Jan 1, 2010
18.18 %
Jan 1, 2011
40 %
Jan 1, 2012
44.36 %
Jan 1, 2013
44.36 %
Jan 1, 2014
13.16 %
Jan 1, 2015
13.15 %
Jan 1, 2016
9.38 %
Jan 1, 2017
19.23 %
Jan 1, 2018
62.33 %
Jan 1, 2019
-11.06 %
Price targets and forecasts for Merafe Resources are not yet available.

Merafe Resources Earnings Estimates

Merafe Resources Earnings Estimates

DateEPS estimateRevenue EstimateQuarterly report
3/18/20240.19ZAR3.74 BZAR2023 Q4
8/21/20230.14ZAR3.65 BZAR2023 Q2
3/20/20230.18ZAR3.93 BZAR2022 Q4
8/23/20220.25ZAR4.02 BZAR2022 Q2
3/22/20220.19ZAR3.88 BZAR2021 Q4
8/10/20210.16ZAR2.98 BZAR2021 Q2
3/8/20210.02ZAR2.29 BZAR2020 Q4
9/8/2020-0.04ZAR2.4 BZAR2020 Q2
3/9/2020-0.01ZAR2.38 BZAR2019 Q4
8/5/20190.1ZAR2.84 BZAR2019 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
28.81662%
Glencore PLC
Glencore PLC
21.88084%
Industrial Development Corporation of South Africa Limited (IDC)
Industrial Development Corporation of South Africa Limited (IDC)
2.74351%
Abax Investments (Pty) Limited
Abax Investments (Pty) Limited
2.331%
Allan Gray Proprietary Limited
Allan Gray Proprietary Limited
1.60056%
Amplify Investment Partners (Pty) Ltd
Amplify Investment Partners (Pty) Ltd
0.86524%
Dimensional Fund Advisors, L.P.
Dimensional Fund Advisors, L.P.
0.78322%
North of South Capital LLP
North of South Capital LLP
0.451%
Apex Investment Consulting SA (Pty) Ltd
Apex Investment Consulting SA (Pty) Ltd
0.19137%
Merchant West Investments (Pty) Ltd
Merchant West Investments (Pty) Ltd
0.11784%
Matlala (Zanele Joyce)
Matlala (Zanele Joyce)

Merafe Resources Executives and Management Board

ZM

Ms. Zanele Matlala

(61)

Chief Executive Officer, Executive Director · since 2005

Compensation22.53 M ZAR
DC

Mr. Ditabe Chocho

(54)

Finance Director, Executive Director · since 2013

Compensation12.47 M ZAR
NM

Mrs. Nonhlanhla Mabusela-Aikhuere

(49)

Independent Non-Executive Director

Compensation606,000 ZAR
MV

Ms. Matsotso Vuso

(51)

Independent Non-Executive Director

Compensation578,000 ZAR
JM

Mr. Jeffery Mclaughlan

(66)

Independent Non-Executive Director

Compensation498,000 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.

All fundamentals and in-depth analysis of Merafe Resources

Our stock analysis for Merafe Resources Revenue 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 Revenue. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.

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