UK 17:54 Wednesday, 23 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Apparently, the most popular share amongst retail investors is Polymetal (POLY). Although shares have plunged 80% since the invasion, it seems Joe Public cannot buy enough of them.
Currently the conflict in Ukraine is a huge risk for any companies operating there or in Russia, and even more so with further sanctions being put in place and proposed.
If you want to invest in London listed precious metals producers your choice of shares is fairly limited, and has become even more so in recent years following takeovers of a couple of the popular miners.
Nearly seven months ago I observed that you should ‘always believe in gold...but stick with Barrick (GOLD) and Polymetal (POLY) and not Yamana (AUY)’ HERE. Most gold stocks are down year-to-date - after an excitable previous couple of years - and these three stocks have been no different. So what do I make of Polymetal now after it published its first half numbers today?
Those of you who remember quality 1980s music will recall the song ‘Gold’ by Spandau Ballet which includes the words “You're indestructable...Always believe in...'Cause you are gold”. From an investment perspective, what this should mean is that it is smart to have a chunk of your portfolio in the shiny yellow metal. Yes, the gold price has fallen by a couple of hundred dollars per ounce, but in a world of unbelievable debt volumes out there (and in my view 2020s decade inflation rates that are likely to be above bank and bond yields for a while), it makes no sense not to have some.
I see Malcolm wrote about the gold space yesterday and it got me thinking again about London's largest cap gold miner Polymetal (POLY), an honour bestowed upon it when my old mucker Randgold decamped via a big merger deal to concentrating its northern hemisphere listings in the North American markets.
Tuesday's update from London-listed, but Russia-focused, gold and silver producer Polymetal (POLY) was unusual in a couple of respects.
First a hat tip to fellow ShareProphets scribe Gary Newman who absolutely called it three or so weeks ago when he wrote HERE, highlighting the overly negative reaction of Polymetal (POLY) shares to the news of varying sanctions on Russian corporate names and businessmen. After having an opportunity to speak with the management of the company last week, I completely agree with Gary's assertion.
