Australia's South32 rises as Morningstar turns optimistic on global commodity prices

South32

12/10/2026 01:39

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** Shares of Australia's South32's S32.AX rise as much as 3.2% to A$5.065, their biggest intraday pct gain since September 29
** Morningstar raises the diversified miner's 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      
** Morningstar assumes stronger base metals prices will benefit the company
** Company's core operations are mainly centered around alumina and aluminum
** Eight of 15 analysts rate the stock "buy" or higher, seven "hold"; median PT is A$5.01- data compiled by LSEG
** YTD, stock up more than 41%, including day's moves

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