Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Guys, S32 is now trading around $3.3-3.50. I bought some at $4.90, planning to hold for next 4-5 years or more. Would you reckon it will make sense to add more under $3.50. My view is that S32 is best diversified miner on ASC and will do well in the long run Thanks
Hi Vinod,
We recently removed S32 from our Hitlist because of their recent average result and the companies commodities mix of predominantly coal and Aluminium/Alumina – MM already has coal ticked through Whitehaven (WHC), New Hope Corp (NHC) and Bowen Coking Coal (BCB) across our 3 domestic portfolios.
However we are bullish the Resources Sector into 2024, including South32 (S32), with BHP Group (BHP) our preferred diversified miner at this stage i.e. we recently increased our BHP position in both of our Flagship Growth Portfolio and Active Income Portfolio
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