Johnson Matthey (JMAT) is a rather diverse specialty chemical company, but essentially the firm is in the platinum business. JM is a leading refiner, marketer, and distributor of the rare metal and its close relatives, known collectively as platinum group metals or PGMs. Additionally, Johnson Matthey manufactures a variety of products that include PGMs as a critical component, including automotive catalysts and active pharmaceutical ingredients. We think the company will benefit from several global trends, including regulation to curb emissions and the growth of prescription drug use in the developing world. However, the penetration of electric vehicles is a potential threat further down the road.
With platinum prices (and demand) declining recently, we have toned down our near-term expectations for the firm's Precious Metals Products division. However, this change was not enough to move the needle on our valuation.
Read the full Morningstar Research Report on Johnson Matthey, including our fair value estimate, by clicking here. Morningstar Research on stocks, funds and ETFs is a feature of Morningstar.co.uk Premium.
SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk
To view this article, become a Morningstar Basic member.
Register For Free
The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.