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South32 (S32)

$3.42 UPDATED 24/09/2021 09:02

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MM remains bullish S32

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OPINION

24/09/2021 09:28

South32 (S32) $3.42

Similar to WHC South32 (S32) is poised to make fresh 2-year highs as it relishes the rising coal price although this is a far more diversified miner. One option for MM is to reconsider maintaining a more diluted coal exposure through S32, a stock that has only doubled since its 2020 low i.e. a lower beta position. At this stage this is one idea we are contemplating...

09/09/2021 09:34

South32 (S32) $3.36

The market has re-rated S32 in similar fashion to AWC in the last fortnight, potentially it’s been the beneficiary of monies leaving the iron ore names. We like this diversified miner and if it can hold onto recent gains in coming weeks the risk / reward will look attractive.

07/09/2021 17:07

4 trade ideas from Peter O’Connor

Peter O’Connor, our resource Analyst at Shaw sums up his current picks in the resource space this morning and I’ve included key highlights below. We own Whitehaven Coal (WHC) & Newcrest (NCM) in the Growth Portfolio + have had S32 on the radar for a while, although we now prefer to buy the consolidation of the ~$3 breakout. We also own Coronado Coal...

19/08/2021 08:11

Reporting Today (ASX, AIA, CDA, EVN, IPH, IRE, NCM, NWH, ORG, ORA, PPT, RBL, SGR, S32, TWE)

Companies reporting today on MM’s radar include: ASX (ASX) FY21 Results: Expectations for revenue of $941m, EBITDA of $681m, NPAT of $474m (down 7.6% on FY20), EPS of $2.45, FY Dividend $2.21. Market currently pricing NPAT for FY22 of $485m, a jump of ~2%.

12/08/2021 09:43

South32 (S32) $2.94

MM has been looking to buy S32 into weakness ~$2.70 through 2021 but so far we’ve been too pedantic. It’s the prospect of a failed “pop” which has held us back from chasing the diversified miner into strength.

21/07/2021 09:50

Southe32 (S32) $2.81

This isn’t always the easiest stock to value with so many moving parts but it’s in the sector we like and the technical risk / reward picture is excellent, another ~4% lower and S32 will enter our “buy zone” – yet another stock / market we like 4% lower.

17/06/2021 09:18

South32 (S32) $2.86

Following the recent divestment of its South African coal asset S32 has added $200m to its capital management program, simply we see nothing not to like in this diversified metals and mining company with the potential exception of the price.

25/05/2021 09:22

South32 Ltd (S32) $2.82

Diversified miner S32 has been on our shopping list for a few weeks and after slipping more than 9% our “buy area” looks very achievable in May / June. We are keen buyers into weakness below $2.70, an overall correction which coincides with our thoughts towards the likes of BHP and RIO.

20/05/2021 09:28

South32 (S32) $2.92

S32 is another Australian miner that MM likes but at lower levels, in this case the diversified miner will look great if we see a further 10% decline, again not out of question considering the stock fell 4% yesterday.

22/03/2021 09:23

South32 (S32) $2.70

Diversified metals and mining stock S32 is one of our favourites into weakness, its already corrected over 8%, the same again and MM is likely to be looking for a catalyst to go long. We also like Whitehaven Coal (WHC) in this similar space.