📊 Ratings Tracker

Both view ADvTECH as a premium education business with structural demand tailwinds. Ghost noted excellent growth in the education sector; TT sees 16% NEPS growth and 18% dividend increase as confirmation.

Both share a NEUTRAL view on Aveng.

Both see Bidcorp as a world-class foodservice compounder. Ghost has repeatedly noted Bidcorp growing into its valuation and its constant-currency revenue and trading profit growth; TT agrees the FY26 print — 6.8% HEPS growth, 118% EBITDA-to-cash conversion and a 6.9% dividend hike — confirms the quality.

Both are BULLISH on Bidvest as a quality diversified industrial. Ghost has highlighted the CEO transition and portfolio rationalisation as positive catalysts; TT agrees the FY2026 print — R130.3bn revenue, 8% trading profit growth, R12.5bn free cash flow (+27%), and ROFE of 38.6% — confirms Bidvest is a compounding machine at a reasonable price.

Both like Dipula's retail-focused property strategy. Ghost highlighted the township retail tilt; TT sees the R2.04bn Moolman acquisition as earnings-accretive and strategically sound.

Both see the Westcon value crystallisation as a major win. Ghost noted the special dividend crystallises value; TT agrees the R7.05bn return validates the sum-of-parts thesis.

Both like Fairvest's positioning. Ghost highlighted 12.3% distribution growth per B share in June and noted the dual-share structure working; TT agrees the S&P zaAAA credit rating and inaugural R500m-R750m bond issuance are the funding-market validation of Fairvest's rural retail property dominance.

Both are bullish on Jubilee's copper pivot. Ghost highlighted the Molefe Mine as key to the mine-to-metals copper strategy; TT agrees the US$35m Large Waste Project disposal at a premium funds the integrated copper mining build-out.

Both see Metair's restructuring finally paying off. Ghost noted the restructuring efforts are "taking hold" and the strategic reset is "substantially complete"; TT agrees the EPS swing from a 93c loss to a 72c profit and the +R188.6m operating cash flow flip confirm the turnaround.

Both are firmly bearish on Mantengu's distress. Ghost has tracked the mining micro-cap's long decline; TT sees the withdrawn audit opinion, the reported irregularity and the R58.3m disputed deferred tax asset as confirmation that the governance risk is real and unresolved.

Both are BULLISH on Nedbank. Ghost called the H1 2026 results "focused execution and growth"; TT agrees the Central Bank of Kenya approval for the c.66% NCBA acquisition is the pivotal regulatory milestone that transforms Nedbank's East Africa story from ambition to reality.

Both see Northam as a quality PGM operator with a premium UG2 basket. Ghost highlighted production and cost discipline; TT sees the unsolicited approach and strategic competitive process as the catalyst that crystallises the takeout value in a consolidating sector.

Both are NEUTRAL on Old Mutual — acknowledging strong operational delivery (Life APE sales +21%, VNB +32%) while noting the adjusted HEPS decline from investment-return headwinds. Ghost covered Old Mutual's secondary listing migration neutrally earlier in August; TT agrees the 8 September interims are the real test — operational strength may be overshadowed by mark-to-market noise.

Both share a BULLISH view on Pan African Resources.

Both are firmly BEARISH on RCL Foods. Ghost warned in the 18 Aug Ghost Bites that the trading statement "is a continuation of where the difficult interim period left off"; TT agrees the FY2026 numbers — HEPS -32.8%, Sugar drowning in imports, Pet Food crushed by a Salmonella recall — confirm this is structural pain, not a one-off.

Both recognise Sabvest as a quality compounder with disciplined capital allocation. Ghost highlighted the track record of value creation; TT notes the Frogfoot/Vox/Hypa investment at sensible prices extends the thesis.

Both like Spear REIT's Western Cape retail execution. Ghost noted the REIT "locking in a tidy return" on its property deals; TT agrees the Watergate Centre acquisition at an accretive 8.37% initial yield — with upside still outside DIPS guidance — is clean, sensible growth.

Both share a BULLISH view on Shoprite.

Both share a BULLISH view on Sanlam Limited.

Both rate Santam as a quality insurer. Ghost has long highlighted Santam's disciplined underwriting and franchise strength; TT agrees the operational update — 10% GWP growth, double-digit growth across MiWay, Santam Direct, Re and Partner Solutions, and an underwriting margin above the 5-10% target midpoint — confirms it.

Both see the PGM/gold recovery finally turning Sibanye's fortunes. Ghost flagged the rapid earnings growth across the group in recent updates; TT agrees the >200% HEPS jump, the record SA gold EBITDA (+85%) and the 67% higher PGM basket price confirm a genuine inflection, not a one-off.

Both see Tharisa as undervalued relative to its asset base. Ghost focused on production metrics being on track; TT highlights the Karo Platinum Special Mining Lease as the catalyst that unlocks the tier-one PGM resource.