Clean South32 Result Shows Strong Price Leverage, Operational Performance -- Market Talk

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0008 GMT - South32 has delivered a clean result with a dividend beat, RBC Capital Markets analyst Kaan Peker says in a note to clients. He highlights the strong performance of Sierra Gorda, Cannington and Australian Manganese. The result "underscores strong price leverage and improved operational execution," Peker says. "Guidance remains intact and capex ranges are unchanged, supporting confidence in FY26 delivery." An interim dividend of US$0.039 compares with RBC's estimate of US$0.029 and consensus of US$0.0319. The miner reports net debt of US$25.0 million versus RBC's expectation of net cash, which Peker attributes in part to FX differences. The broker has an outperform rating and A$4.50 target on South32. The stock is up 3.9% at A$4.84. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

 

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February 11, 2026 19:08 ET (00:08 GMT)

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