|Bid||6.10 x 3224000|
|Ask||6.40 x 694800|
|Day's Range||5.85 - 6.53|
|52 Week Range||5.40 - 8.75|
|PE Ratio (TTM)||6.30|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.13|
Rebel shareholders ousted the leadership at Petropavlovsk Plc as the bitter battle for gold mines in Russia’s far east took another twist. Kazakh cryptocurrency tycoon Kenes Rakishev, who controls a 22 percent stake, and the co-founder Peter Hambro were among investors who had sought the ouster of the existing board at a shareholder meeting in London. Investors voted to bring back former Chief Executive Officer Pavel Maslovskiy and directors Roderic Lyne and Robert Jenkins, Petropavlovsk said in a statement on Friday.
Russian miner Petropavlovsk's (POG.L) largest shareholder, who is calling for an overhaul of the board, has written to fellow shareholders, setting out plans to sell the company's stake in an iron ore unit and to draw up deal targets in the gold sector. The company holds its annual general meeting in London on June 29, when, only a year after the previous board was toppled, shareholders will be asked to vote on another board change following proposals by activist shareholders. For the longer term, the letter says there are opportunities in "undervalued gold assets in both Russia and Central Asia" and Petropavlovsk should begin to prepare a pipeline and preliminary analysis of targets as soon as possible.
Pavel Maslovskiy, one of the founders of Petropavlovsk (POG.L), hopes to return as CEO later this year in the latest twist in a long-running battle for control at the Russian gold miner. Maslovskiy stepped down last year after a shareholder revolt ousted another co-founder, British businessman Peter Hambro. Kazakh entrepreneur Kenges Rakishev, who is now the company's largest shareholder after buying a stake from Russian billionaire Viktor Vekselberg in December, also wants Maslovskiy back at the helm.
Investors are always looking for growth in small-cap stocks like Petropavlovsk PLC (LSE:POG), with a market cap of UK£231.26M. However, an important fact which most ignore is: how financially healthyRead More...
Petropavlovsk PLC (LSE:POG) trades with a trailing P/E of 7.7x, which is lower than the industry average of 12.3x. While this makes POG appear like a great stock to buy,Read More...
Kazakh businessman Kenges Rakishev, who owns just over a fifth of Russian miner Petropavlovsk (POG.L), said the company should sell its 31.1 percent stake in Hong Kong-listed iron ore company IRC to focus exclusively on gold. Rakishev, who bought a 22 percent stake in Petropavlovsk in December, has said his near-term focus is on bringing back former CEO Pavel Masklovskiy to continue work on a project to boost the company's output. After that, he would seek acquisitions, not just in Russia, but in central Asia, and he said shareholder value would be increased if Petropavlovsk sold its stake in IRC, which has a market capitalisation of around $200 million.