Added to YB: 2026-08-31
Pitch date: 2026-08-28
S32.AX [neutral]
South32 Limited
Author Info
No bio for this author
Company Info
South32 Limited operates as a diversified metals and mining company. The company operates through Worsley Alumina, Brazil Alumina, Brazil Aluminium, Hillside Aluminium, Mozal Aluminium, Sierra Gorda, Cannington, Hermosa, Australia Manganese, and South Africa Manganese segments.
Market Cap
AUD 16.7B
Pitch Price
N/A
Price Target
N/A
Dividend
2.49%
EV/EBITDA
11.36
P/E
15.89
EV/Sales
2.77
Sector
Metals and Mining
Category
special_situation
Trade Updates - South32 Limited
S32.AX (trimmed position): South32 was trimmed after reaching all-time highs and rerating to a pro forma “CleanCo” valuation of roughly 6.8x FY27 EV/EBITDA, in line with peers rather than cheap. A core position may be retained for strong copper, zinc and silver markets and Hermosa’s expected startup in roughly 18 months, but meaningful returns of the Alcoa proceeds appear less likely as management pursues growth and its deal capabilities remain unproven.
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