South32 in Solid Financial Shape With Strong Finish to Fiscal 2016, Fair Value Maintained
We maintain our South32 AUD 1.50 per share fair value estimate, following the fiscal 2016 full-year result. Underlying EPS and net profit after tax declined by almost 80% on the prior year to USD 2.6 cents and USD 138 million respectively, driven by a 21% fall in average realised commodity prices. The company reported a statutory net loss of USD 1.6 billion for the fiscal year, down from proforma fiscal 2015 statutory net profit of USD 28 million. The headline result was impacted by USD 1.8 bill...South32 is engaged in mining and metal production from a portfolio of assets for the commodities of alumina, aluminium, bauxite, energy and metallurgical coal, manganese ore, manganese alloy, nickel, silver, lead and zinc. As of June 30 2016, Co. operated 10 segments, which were comprised of: Worsley Alumina, South Africa Aluminium, Brazil Alumina, Mozal Aluminium, South Africa Energy Coal, Illawarra Metallurgical Coal, Australia Manganese, South Africa Manganese, Cerro Matoso, and Cannington.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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