If there is one thing you can guarantee it’s that when you invest in the mining sector no two days will never be the same. This is especially true when it comes to Russian based mining companies. Of all the mining companies frequenting the stock market, one that will sure to be catch your attention is Polymetal International. A feature of the London Stock Exchange and the FTSE 250, Polymetal International shares are ever growing in popularity. So should you buy Polymetal International shares? Are they the right for your portfolio? Read on to find out.
When it comes to mining the present will only tell you part of a company’s story. History will tell you that 2011 and 2012 won’t go down as the finest years in Polymetal International’s history. After setting their sights on solidifying a place within the FTSE 100, things went sour as their share price dipped due to poor growth within their Eastern Russia based operations. Poor performance in the world of mining can trigger a domino effect, but thankfully the company saw to stop the rot early. In 2013 they posted far stronger results that expected, this included a 31% rise in their gold output, with a near 40% boost in financial revenues. They also fulfilled their promise to pay 30% of net earnings back to investors. While also taking into consideration the company’s strong position, after a tough 2011 and…show more content… Polymetal International would complete the purchase of Maminskoye gold deposit in Sverdlovks, Russia, something that was dubbed an area with “substantial exploration upside” by mining experts. It has the potential to output approximately 100,000 ounces of a gold a year, making it a mine with substantial profitability potential. The age old saying is “strike while the iron is hot”, something that Polymetal International did throughout
