S32 closed up over 3% on Monday after embracing yesterday’s manufacturing data and rallying throughout the day after posting its session low early in the morning. Diversified miner S32 delivered a strong earnings report in February, and we like any market weakness that affords an attractive entry into the stock – MM likes this miner as an alternative to the major iron stocks such as BHP and RIO, especially for diversification.
- We like S32 around the $3.50 area with an initial break above $4 looking likely through 2025.
MM is cautiously bullish toward S32
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