South32 1Q Production Result Mixed But Reasonable -- Market Talk

Dow Jones
2024/10/21

2333 GMT - South32's 1Q result includes some positive and some negative surprises, as usual, says Citi analyst Paul McTaggart in a note. Overall, the miner had a reasonable start to FY 2025, he says. Versus Citi's expectations, manganese, copper and aluminum production is better than anticipated, with silver and zinc a miss, says McTaggart. "Disappointingly," working capital increased by roughly US$150 million, he adds. Citi has a buy rating and A$3.90/share. South32 is up 0.1% at A$3.705/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

 

(END) Dow Jones Newswires

October 20, 2024 19:33 ET (23:33 GMT)

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