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S32 - South32 News Story

A$2.86 0.1  2.1%

Last Trade - 5:11am

Sector
Basic Materials
Size
Large Cap
Market Cap £7.47bn
Enterprise Value £7.27bn
Revenue £4.11bn
Position in Universe 40th / 1831

BUZZ-Citi: South32's production 'robust', sees upside from supply-side reforms in China

Fri 22nd January, 2021 1:01am
** Citi rates South32 Ltd  S32.AX  "buy" as brokerage deems
miner's production robust with reduced costs
    ** Brokerage believes South32 would benefit from supply-side
reforms in China that support aluminium and high-quality
steel-making raw materials 
    ** Stock up 4.9% to A$2.79, its biggest intraday pct gain
since Jan 7, 2021
    ** Brokerage estimates sales for FY 2021 at $5,818.5 mln
compared with $6,075 mln reported by co for FY2020 
    ** Says the China-exposed Aussie miner's revenue is
vulnerable to slowdown in Chinese economic growth and
uncertainty surrounding the South African tax policy review
    ** Twelve of 15 analysts rate the stock "buy" or higher, two
"hold" and one "sell"; their median PT is A$2.84 – Refinitiv
data
    ** Stock up 7.7% this year, as of last close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))
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