0038 GMT - Miner South32 posts "clean results," with FY 2026 earnings slightly higher than consensus and its total dividend roughly in line, says Barrenjoey. "S32 said current dividend policy with 40% payout ratio applies until completion" of the aluminum-business sale, the bank notes. South32's FY 2027-2028 volume guidance has Sierra Gorda copper-equivalent production ahead of consensus, but Gemco softer, Barrenjoey says. It adds that FY 2027 unit cost guidance is better than Barrenjoey expected at Sierra Gorda and Cannington, but worse at Gemco. The bank has an overweight rating and A$5.00/share target on the stock. Shares are up 0.6% at A$5.17.
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