South32: Result 2018

Helped by higher commodity prices, this was one of the best results in the mining sector this reporting season.

Recommendation
South32: Result 2018
View company profile for S32

Date 29 Aug 2018
Current Price $2.76

Buy
below
Hold
up to
Sell
above
Buy Hold Sell Meter
Max Portfolio Weighting
Business Risk
Medium
Share Price Risk
Medium

In a reporting season characterised by strong mining results, South32's was among the best. After a long lull, manganese prices have soared and South32 feasted on the fattest margins for the steel ingredient in years, hitting 70% over the past year.

To this add the usual strong performers in Cannington and higher alumina prices which drove improvements in the giant Worsley and Brazil alumina operations, and this turned out to be a stunning result.

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