Morningstar upbeat on South32 after commodity price hikes

South32

11/10/2026 21:46

** Morningstar raises Australian South32's S32.AX fair value by 5% to A$4.3
** Investment research firm says copper trades near historical highs at about $6.50 per pound, up 10% since Morningstar's July 2026 update      
** Bets on the diversified miner assuming stronger base metals prices benefit
** Notes stronger aluminum and alumina prices — company's core operations are mainly centered around alumina and aluminum
** Eight of 15 analysts rate the stock "buy" or higher, seven "hold"; their median PT is A$5.01, LSEG-compiled data shows
** YTD, stock up nearly 38%, as of S32's last close

 (Reporting by Aamir Sheik Khalid in Bengaluru; Editing by Mark Porter)
 ((Aamir.SheikKhalid@thomsonreuters.com))