| Tuesday | ||||
Goldman Sachs analyst… Goldman Sachs analyst Paul Young upgraded South32 to Conviction Buy from Buy with a price target of A$3.4, up from A$3.2. The analyst is citing the recent rise in commodity prices, particularly higher aluminium and manganese. Young adds that he is positive on South32's commodity mix, including alumina, met coal and manganese, which represent over 50% of its EBITDA. | ||||
| Over a week ago | ||||
Barclays analyst Amos… Barclays analyst Amos Fletcher raised the firm's price target on South32 to 145 GBp from 130 GBp and keeps an Underweight rating on the shares. | ||||
| Over a month ago | ||||
Deutsche Bank analyst… Deutsche Bank analyst Abhi Agarwal lowered the firm's price target on South32 to 190 GBp from 200 GBp and keeps a Buy rating on the shares. | ||||
Barclays analyst Amos… Barclays analyst Amos Fletcher raised the firm's price target on South32 to 130 GBp from 125 GBp and kept an Underweight rating on the shares. | ||||
| Over a quarter ago | ||||
Barclays analyst Amos… Barclays analyst Amos Fletcher double downgraded South32 to Underweight from Overweight with a price target of A$1.10, down from A$1.55. | ||||
Trilogy Metals (TMQ)… Trilogy Metals (TMQ) announced that Ambler Metals, the joint venture operating company equally owned by Trilogy and South32 (SOUHY) has recently approved the 2021 program and budget of approximately $27M for the advancement of the Upper Kobuk Mineral Projects located in Northwestern Alaska. The budget is 100% funded by Ambler Metals and is expected to be confirmed by the NANA Oversight committee on December 3. The project includes 7,600 meters of infill and metallurgical drilling at the Arctic Project, 7,000 meters of exploration drilling focused on drill-ready targets, engineering activities focused on getting the Arctic Project ready for permitting, permitting efforts focused on submission of the Federal 404 permit application in the second half of 2021. Activities at the Arctic Project will focus on an additional 7,600 meters of drilling. The metallurgical program associated with this drilling will support variability test work and pilot plant work which will commence later in 2021. The company expects Ambler Metals will submit the permit applications during SH21. During the 2021 field season, Ambler Metals will be adhering to a COVID safety protocol regime. Trilogy and South32 each own a 50% interest in Ambler Metals. The funds are dedicated to advancing the Arctic and Bornite projects, along with exploration in the Ambler mining district. The permanent management team at Ambler Metals have been hired and are all now based in Alaska. | |
UBS analyst Myles Allsop… UBS analyst Myles Allsop raised the firm's price target on South32 to 145 GBp from 140 GBp and keeps a Buy rating on the shares. | |
HSBC analyst Jonathan… HSBC analyst Jonathan Brandt upgraded South32 to Buy from Hold with a A$2.06 price target. | |
Societe Generale analyst… Societe Generale analyst Sergey Donskoy initiated coverage of South32 with a Buy rating and 155 GBp price target. The shares offer "attractive exposure" to the ongoing recovery in the prices of aluminum, zinc and coking coal, Donskoy tells investors in a research note. Further, the analyst sees "compelling organic growth optionality." | |
UBS analyst Myles Allsop… UBS analyst Myles Allsop lowered the firm's price target on South32 to 135 GBp from 140 GBp and keeps a Buy rating on the shares. |