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South32 ( (AU:S32) ) just unveiled an update.
South32 reported mixed operational and financial results for the March 2026 quarter, overshadowed by a fatal incident at its Worsley Alumina refinery that has prompted a renewed emphasis on safety and cooperation with authorities. Despite adverse weather and supply chain pressures linked to Middle East conflict, the group kept production guidance intact for most assets, with record output at Brazil Alumina, strong performance at Hillside Aluminium, a planned transition of Mozal Aluminium to care and maintenance, and a 6% cut to Australia Manganese guidance due to persistent water management issues.
Financially, South32 generated net cash of US$121 million, ending the quarter with US$96 million net cash after US$158 million in growth capex at its flagship Hermosa project and receiving a record US$135 million distribution from the Sierra Gorda joint venture. The company continued shareholder returns via buy-backs and a fully franked interim dividend, while advancing Hermosa’s Taylor zinc‑lead‑silver project through key U.S. permitting milestones and underground and surface development, and funding broader exploration, positioning the portfolio more heavily toward future-facing base metals amid global cost inflation and freight constraints.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$2.65 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
More about South32
South32 is a diversified mining and metals company with operations spanning alumina, aluminium, manganese, copper, zinc, silver and other base metals across Australia, South America and Africa. The group is increasingly focused on higher-value base metals, including copper, zinc, silver and battery-grade manganese, while maintaining large-scale aluminium and alumina production to leverage global demand and commodity price strength.
Average Trading Volume: 17,955,367
Technical Sentiment Signal: Buy
Current Market Cap: A$20.72B
For an in-depth examination of S32 stock, go to TipRanks’ Overview page.