Soft Finish to Fiscal 2019 for South32 but AUD 3.00 per Share FVE Retained
The sell-off in base metals, thermal coal, aluminium and alumina, and manganese prices has been a key driver of the decline in South32’s share price. It peaked at AUD 4.25 in October 2018 and now sits about 30% lower around AUD 3.00 per share. The S&P/ASX 200 index has increased almost 7% in the same period. With the lower share price, South32’s shares are fairly valued and trade in line with our unchanged AUD 3.00 per share fair value estimate for no-moat-rated South32.Fourth-quarter produ...
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.
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