South32 Seen Benefiting From Higher Aluminum, Gold Prices -- Market Talk
Dow Jones
Apr 22
0107 GMT - Higher prices for aluminum, gold and silver are a positive Ebitda tailwind for South32, says Citi, which reckons the miner will have a net cash balance of US$131 million by FY 2026-end. South32 reports net cash of US$96 million at the end of 3Q. The shift from what was previously a net debt position reflects "positive momentum in its cash generation despite the Hermosa project capex," Citi says. It views South32's 3Q results as "a mixed set," highlighting misses in copper, zinc and manganese production offset by better-than-expected aluminum output. Citi has a buy rating and A$5.40 target on South32. Shares are up 0.9% at A$4.45. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 21, 2026 21:07 ET (01:07 GMT)
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