SOUTH32 LIMITED (S32)
Share Price Analysis and Chart

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S32 - SOUTH32 LIMITED

FNArena Sector : Mining
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 2.08
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

South32 is a mining and metals company producing alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc in Australia, Southern Africa and South America. It was spun out of BHP Billiton in 2015.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.34

20 Dec
2024

-0.020

OPEN

$3.31

-0.60%

HIGH

$3.35

20,837,887

LOW

$3.31

TARGET
$4.11 23.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
5EA . AMN . APC . ARV . AZY . BML . CNB . COD . CXM . DRE . EM2 . G1A . HFR . KLL . KSN . LM8 . LRS . PEX . PMT . QML . RTR . S2R . STK . SVY .
FNARENA'S MARKET CONSENSUS FORECASTS
S32: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 35.3 xxx
DPS (cps) 11.1 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 9.5 xxx
Dividend Yield 3.3% xxx
Div Pay Ratio(%) 31.5% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 1.40%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.67

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 19/09 - ex-div 4.57c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-6.9
DPS All xxxxxxxxxxxxxxx5.2
Sales/Revenue xxxxxxxxxxxxxxx8,361.2 M
Book Value Per Share xxxxxxxxxxxxxxx297.2
Net Operating Cash Flow xxxxxxxxxxxxxxx1,707.6 M
Net Profit Margin xxxxxxxxxxxxxxx-11.64 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-7.08 %
Return on Invested Capital xxxxxxxxxxxxxxx-6.17 %
Return on Assets xxxxxxxxxxxxxxx-4.51 %
Return on Equity xxxxxxxxxxxxxxx-7.08 %
Return on Total Capital xxxxxxxxxxxxxxx1.67 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-131.2 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx334 M
Long Term Debt xxxxxxxxxxxxxxx2,011 M
Total Debt xxxxxxxxxxxxxxx2,345 M
Goodwill - Gross xxxxxxxxxxxxxxx208 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,261 M
Price To Book Value xxxxxxxxxxxxxxx1.23

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx1,710.7 M
Capex % of Sales xxxxxxxxxxxxxxx20.46 %
Cost of Goods Sold xxxxxxxxxxxxxxx7,661 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx429 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3,621 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

10/12/2024

1

Buy

-

-

In research prepared and distributed before the latest stimulus announcement by China, UBS's global basic materials research team expressed the view that the outlook for commodities had arguably deteriorated, also because of Trump's love for import tariffs.

UBS's preference lays with commodities underpinned by "compelling supply dynamics" and by demand supported by the energy transition, i.e. copper and aluminium, as well as gold.

UBS's constructive view on gold is based on prospect for lower real bond yields, heightened geopolitical uncertainty and rising allocations by central banks.

The pricing for thermal coal is expected to remain range-bound, with a more positive outlook for met coal while fundamentals continue to deteriorate for iron ore, the team suggests.

For reasons illogical and unclear, UBS's price targets for South32 are solely in GBP and ZAR, respectively GBP2.25 and ZAR54, both increased by 5%. Buy rating remains unchanged.

FORECAST
UBS forecasts a full year FY25 EPS of 46.49 cents.
UBS forecasts a full year FY26 EPS of 49.67 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Goldman Sachs

09/12/2024

1

Buy

$3.90

16.77%

South32 conducted an investor tour of the 45%-owned Sierra Gorda copper mine in Chile.

Goldman Sachs was "impressed" by the operation, which came across as highly efficient at around a 78% recovery rate, given the low copper grade. The analyst highlights the mine has lower costs and is more efficient than BHP Group's ((BHP)) Spence mine.

The company increased forecast copper production to circa 156kt in FY25 and circa 164kt in FY26 from improved grades, recoveries, and mill throughput.

Goldman Sachs lifts EPS forecasts by 3% for FY25/FY26.

Target price unchanged at $3.90 with a Buy rating.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 9.07 cents and EPS of 31.76 cents.
Goldman Sachs forecasts a full year FY26 dividend of 19.66 cents and EPS of 48.40 cents.
Access Extra Coverage Research History >

S32 STOCK CHART

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