South32 (ASX:S32) has beaten RBC Capital Markets expectations for fiscal first-half earnings before interest, taxes, depreciation, and amortization (EBITDA) by 11% and consensus estimate by 7%, according to a Thursday Australian Financial Review Report, citing RBC Capital Markets Analyst Kaan Peker.
The company reported Thursday fiscal first-half underlying earnings of $0.097 per basic share, up from $0.083 a year earlier. Analysts polled by FactSet expected earnings of $0.07.
Peker said strong copper, silver, and manganese prices supported operational leverage across the company's key assets.
RBC said it is confident in the company's ability to deliver fiscal year 2026 performance despite minor debt variance.
RBC Capital Markets has maintained its outperform rating on South32 with a price target of AU$4.50.
The company's shares fell 3% in recent Thursday trade.
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