South32 Outlook Features More Base Metals than Expected
Dow Jones
Yesterday
0201 GMT - South32's FY 2027 guidance is more strongly geared to base metals than anticipated, says Jefferies. A production forecast at Cannington of 290,000 tons dwarfs Jefferies' 206,000-ton estimate, it says. South32's estimates for volumes at Sierra Gorda are also higher than expected. "We remain constructive on South32 as a diversified base-metals growth vehicle, with disciplined capital management and improving portfolio clarity," Jefferies says. The bank has a buy rating and A$6.00/share target on South32. Shares are up 0.2% at A$5.15.
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