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: 0.92
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

$2.91

25 Jul
2024

-0.050

OPEN

$2.91

-1.69%

HIGH

$2.97

21,235,590

LOW

$2.89

TARGET
$3.708 27.4% 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 . SVY .
FNARENA'S MARKET CONSENSUS FORECASTS
S32: 1
Title FY24
Forecast		 FY25
Forecast
EPS (cps) 13.4 xxx
DPS (cps) 4.5 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 22.2 xxx
Dividend Yield 1.5% xxx
Div Pay Ratio(%) 33.6% 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: 1.62%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.64

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: 07/03 - ex-div 0.62c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-5.6
DPS All xxxxxxxxxxxxxxx12.3
Sales/Revenue xxxxxxxxxxxxxxx11,044.4 M
Book Value Per Share xxxxxxxxxxxxxxx311.1
Net Operating Cash Flow xxxxxxxxxxxxxxx1,770.6 M
Net Profit Margin xxxxxxxxxxxxxxx-2.33 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-1.73 %
Return on Invested Capital xxxxxxxxxxxxxxx-1.52 %
Return on Assets xxxxxxxxxxxxxxx-1.13 %
Return on Equity xxxxxxxxxxxxxxx-1.73 %
Return on Total Capital xxxxxxxxxxxxxxx10.65 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-900.9 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx548 M
Long Term Debt xxxxxxxxxxxxxxx2,067 M
Total Debt xxxxxxxxxxxxxxx2,615 M
Goodwill - Gross xxxxxxxxxxxxxxx209 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,890 M
Price To Book Value xxxxxxxxxxxxxxx1.21

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx1,416.8 M
Capex % of Sales xxxxxxxxxxxxxxx12.83 %
Cost of Goods Sold xxxxxxxxxxxxxxx8,835 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx343 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3,601 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

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

23/07/2024

1

Outperform

$4.00

37.46%

Macquarie cuts earnings and valuation forecasts for South32 to reflect the affect of Worsley's approval risk on production, costs and impairments.

Overall the June-quarter result disappointed, despite a rare 5% beat on manganese. Sierra Gorda's production proved a miss and Cerro Matosa provided a beat.

But this was well overshadowed by the Worsley situation.

The company closed the quarter with net debt of US$0.8bn (down from US$0.9bn in the March quarter), suggesting cash generation, observes the broker.

EPS forecasts fall -28% for FY24; -14% for FY25; and -3% for FY26.

Outperform rating retained. Target price falls -11% to $4 from $4.50.

FORECAST
Macquarie forecasts a full year FY24 dividend of 3.97 cents and EPS of 9.61 cents.
Macquarie forecasts a full year FY25 dividend of 13.88 cents and EPS of 34.33 cents.

Citi

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Goldman Sachs

09/07/2024

1

Buy

$4.30

47.77%

For the second half of 2024 commodities outlook, Goldman Sachs remains most positive on copper, aluminium, and metallurgical coal on forecast market deficits.

On the other hand, the broker remains bearish thermal coal and battery materials (lithium, nickel) on forecast market surpluses. Elsewhere, the benchmark 62% iron ore price is expected to average between US$100-105/t over the remainder of the year.

The broker's target for South32 rises to $4.30 from $4.00 largely due to a higher long-run met coal price forecast and a slightly higher aluminium price estimate. Buy.

FORECAST
Goldman Sachs forecasts a full year FY24 dividend of 5.49 cents and EPS of 18.31 cents.
Goldman Sachs forecasts a full year FY25 dividend of 15.41 cents and EPS of 51.87 cents.
Access Stockbroker Research History >

S32 STOCK CHART

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