Australia's South32 rises after miner beats market estimates for quarterly production

South32

20/07/2026 01:41

** Shares of South32 S32.AX rise as much as 3.1% to A$4.02, their largest intraday pct jump since July 10
** The diversified miner logs fourth-quarter copper equivalent output of 19.9 Kt vs Visible Alpha consensus estimate of 17 Kt, according to Jefferies
** Also reports manganese production from Australia and South Africa ops of 1,310 kwmt, beating VA consensus of 1,223.8 kwmt
** Jefferies says company's aluminium exit clears the largest structural overhang on the multiple, bringing the portfolio to a majority base/precious metals EBITDA
** Stock up 10.8% YTD, including the day's moves



 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))