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Pin to quick picksSouth32 Share News (S32)

Share Price Information for South32 (S32)

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Share Price: 154.60
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Ask: 156.00
Change: 0.00 (0.00%)
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Broker tips: Cranswick, miners, Tullett Prebon

Mon, 05th Dec 2016 12:57

(ShareCast News) - Cranswick's shares were under the cosh on Monday as Numis downgraded the food producer's stock to 'hold' from 'add' and cut the target price to 2,311p from 2,536p.While the company last week revealed a strong set of first half results, Numis noted the market's increased wariness of consumer-related stocks.Revenue for the Yorkshire-based meat specialist of £580.8m was up 15.9% on the same period last year, while underlying revenue rose 8% and export were boosted by "particularly strong" sales to the Far East that surged 83%.The group's 'buy and build' strategy, which has been pursued for decades, will be continued and by 2018 Cranswick is aiming to process 60,000 pigs per week."Our target has though been reduced to reflect the mounting worries for consumer-linked stocks in 2017," Numis said."Rest assured though that Cranswick will remain very much a medium term winner." Citigroup adjusted its ratings on a number of mining stocks on Monday as it upgraded its view on the Western European metals and mining sector to 'bullish' from 'bearish'.The bank said it now sees a more robust outlook for next year for the commodity complex, especially the bulks, leading to cash flow and earnings upgrades along with higher forecast dividend yields."Moreover, short term, commodity prices have been firmer for longer this year which has resulted in substantial balance sheet repair for the miners. The miners also appear to be holding down capex for longer and the inflation pressures that we expected to build are being cushioned by weaker producer currencies against a stronger US dollar which is proving to be a fillip for the companies."It upgraded Anglo American to 'neutral' from 'sell' and lifted the price target to 1,350p from 830p, saying the upgrade was part of the much more positive overall sector view it has adopted."Caution around the near-term outlook for diamonds due to demonetisation in India and medium term outlook for platinum due to challenging auto catalyst outlook however remain."The target price increase is driven by significant earnings upgrades from higher commodity prices and a lower Australian dollar, which have also increased the net present value to 1,430 a share from 1,250p.The bank upgraded Glencore to 'buy' from 'neutral' and upped the price target to 330p from 220p as it pointed to the dividend reinstatement, strong cash generation and a solid commodity mix.Citi upped Rio Tinto to 'neutral' from 'sell' and pushed the target price to 3,300p from 2,550p."We expect strong 2H cash flow generation to drive gearing below the targeted 20-30% range by end-16 (17%), which opens the debate about capital management in 2017. Assuming a 50% payout ratio leaves $6bn of excess capital (more than 8% of market cap) that could be returned in 2017, with a further $2.6bn in 2018 (around 3.5% of market cap)."The bank changed its stance on South32 to 'buy' from 'sell' and lifted the price target to 200p from 140p. Tullett Prebon's shares fell on Monday as HSBC downgraded the inter-dealer money broker's stock to 'hold' from buy' but raised the target price to 480p from 460pThe share price has rallied more than 50% from lows in July following the Brexit vote as the company benefits from foreign exchange headwinds. Investors also see cost synergies and reduced broker compensation targets.Meanwhile, the company is still awaiting final regulatory approval for its merger with ICAP's Global Broking business. Tullett has said the approval should be granted year-end.HSBC said it had expected that all approvals would have been granted much earlier in the fourth quarter of 2016."We therefore think that it is time for management to deliver now in terms of final approvals as well as execution of merger and its promised cost synergies," the bank said.HSBC expects earnings per share of 36.94p in 2016, compared to a previous estimate of 20.27p, as it has removed IGBB revenues from its guidance..For 2017 HSBC has lifted its EPS forecast to 38.30p from 37.32p as it sees reduced broker compensation during this fiscal year. The new EPS guidance for 2016 is 9% above consensus forecasts while 2017 EPS estimate is 3% ahead."While still having above-consensus forecasts, we now see relatively limited upside of 8% for the shares despite several earnings upgrades in the past several months and therefore downgrade shares to Hold," said HSBC."We believe that dividend yield is a good reason to hold the shares but most of the promised merger benefits now seem to be in the price."
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28 Mar 2024 13:43

UK dividends calendar - next 7 days

Friday 29 March 
Energean PLCdividend payment date
Fiske PLCdividend payment date
Triple Point Social Housing REIT PLCdividend payment date
Monday 1 April 
no events scheduled 
Tuesday 2 April 
Ashmore Group PLCdividend payment date
Braemar PLCdividend payment date
Fair Oaks Income Ltddividend payment date
Fonix Mobile PLCdividend payment date
JPMorgan European Growth & Income PLCdividend payment date
MJ Gleeson PLCdividend payment date
RM Infrastructure Income PLCdividend payment date
Shoe Zone PLCspecial dividend payment date
Temple Bar Investment Trust PLCdividend payment date
Tritax Big Box REIT PLCdividend payment date
Warehouse REIT PLCdividend payment date
Wheaton Precious Metals Corpex-dividend payment date
Wednesday 3 April 
Barclays PLCdividend payment date
Tetragon Financial Group Ltddividend payment date
Thursday 4 April 
Alpha Group International PLCex-dividend payment date
Apax Global Alpha Ltddividend payment date
BP Marsh & Partners PLCex-dividend payment date
Breedon Group PLCex-dividend payment date
Brunner Investment Trust PLCdividend payment date
Chelverton UK Dividend Trust PLCex-dividend payment date
CT UK High Income Trust  PLC - Class Bex-dividend payment date
Dalata Hotel Group PLCex-dividend payment date
Direct Line Insurance Group PLCex-dividend payment date
Domino's Pizza Group PLCex-dividend payment date
Empiric Student Property PLCex-dividend payment date
European Assets Trust PLCex-dividend payment date
European Smaller Cos Trust PLCex-dividend payment date
Finsbury Growth & Income Trust PLCex-dividend payment date
Games Workshop Group PLCex-dividend payment date
Grit Real Estate Income Group Ltdex-dividend payment date
Hammerson PLCex-dividend payment date
Henderson High Income Trust PLCex-dividend payment date
IMI PLCex-dividend payment date
InterContinental Hotels Group PLCex-dividend payment date
Invesco Asia Trust PLCex-dividend payment date
Kitwave Group PLCex-dividend payment date
Life Science REIT PLCex-dividend payment date
London Finance & Investment Group PLCdividend payment date
Martin Currie Global Portfolio Trust PLCex-dividend payment date
Mondi PLCex-dividend payment date
Nexus Infrastructure PLCex-dividend payment date
OSB Group PLCex-dividend payment date
Pebble Group PLCex-dividend payment date
PZ Cussons PLCdividend payment date
Real Estate Investors PLCex-dividend payment date
Rentokil Initial PLCex-dividend payment date
RIT Capital Partners PLCex-dividend payment date
Schroder Income Growth Fund PLCex-dividend payment date
Shires Income PLCex-dividend payment date
Smiths Group PLCex-dividend payment date
South32 Ltddividend payment date
US Solar Fund PLCex-dividend payment date
VinaCapital Vietnam Opportunity Fund Ltdex-dividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved

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20 Mar 2024 07:40

LONDON BRIEFING: UK inflation cools to 3.4% in February; Eyes on Fed

(Alliance News) - Stocks in London are expected to open slightly lower on Wednesday, as investors digest some cooler-than-expected inflation in the UK and look ahead to the latest US interest rate decision.

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20 Mar 2024 06:16

South32 withdraws annual manganese production guidance after cyclone

(Alliance News) - South32 Ltd said on Wednesday it has withdrawn its annual production guidance for its manganese business Groote Eylandt Mining Co Pty Ltd, which remained temporarily suspended due to Tropical Cyclone Megan.

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18 Mar 2024 06:39

IN BRIEF: South32 says manganese unit shuts down due to cyclone

South32 Ltd - Perth-based diversified mining group - Its manganese producer, Groote Eylandt Mining Co Pty Ltd, has suspended operations due to Tropical Cyclone Megan. Notes that severe weather conditions continue to impact Groote Eylandt, and it is closely monitoring the situation. "Initial inspections indicate the cyclone has caused structural damage to the wharf. The full impact of the damage and subsequent disruption to production and sales volumes will be assessed when access to the port and other infrastructure is restored," South32 says. Groote Eylandt is located on an island in Australia's Gulf of Carpentaria.

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29 Feb 2024 16:06

UK dividends calendar - next 7 days

Friday 1 March 
AEW UK REIT PLCdividend payment date
Alternative Income REIT PLCdividend payment date
Atrato Onsite Energy PLCdividend payment date
Carr's Group PLCdividend payment date
CC Japan Income & Growth Trust PLCdividend payment date
CVC Income & Growth Ltd (EUR)dividend payment date
CVC Income & Growth Ltd (GBP)dividend payment date
Gabelli Merger Plus+ Trust PLCdividend payment date
ICG Enterprise Trust PLCdividend payment date
IG Group Holdings PLCdividend payment date
JPMorgan China Growth & Income PLCdividend payment date
JPMorgan Claverhouse Investment Trust PLCdividend payment date
LXi REIT PLCdividend payment date
Pollen Street PLCdividend payment date
TwentyFour Select Monthly Income Fund Ltddividend payment date
UK Commercial Property REIT Ltddividend payment date
Monday 4 March 
no events scheduled 
Tuesday 5 March 
Henderson Smaller Cos Investment Trust PLCdividend payment date
PayPoint PLCdividend payment date
Wednesday 6 March 
AB Dynamics PLCdividend payment date
Thursday 7 March 
abrdn Diversified Income & Growth PLCex-dividend payment date
Assura PLCex-dividend payment date
Athelney Trust PLCex-dividend payment date
Berkeley Group Holdings PLCex-dividend payment date
BHP Group Ltdex-dividend payment date
Chenavari Toro Income Fund Ltddividend payment date
Colefax Group PLCex-dividend payment date
Crown Place VCT PLCex-dividend payment date
CT UK Capital & Income Investment Trust PLCex-dividend payment date
Energean PLCex-dividend payment date
HSBC Holdings PLCex-dividend payment date
JPMorgan Global Emerging Markets Income Trust PLCex-dividend payment date
JPMorgan Global Growth & Income PLCex-dividend payment date
Law Debenture Corp PLCex-dividend payment date
Mid Wynd International Investment Trust PLCex-dividend payment date
Personal Assets Trust PLCex-dividend payment date
Premier Miton Global Renewables Trust PLCex-dividend payment date
PZ Cussons PLCex-dividend payment date
Redcentric PLCex-dividend payment date
Renishaw PLCex-dividend payment date
Rights & Issues Investment Trust PLCex-dividend payment date
Rio Tinto PLCex-dividend payment date
Ruffer Investment Co Ltdex-dividend payment date
Safestore Holdings PLCex-dividend payment date
Schroder Real Estate Investment Trust Ltdex-dividend payment date
SDCL Energy Efficiency Income Trust PLCex-dividend payment date
South32 Ltdex-dividend payment date
Standard Chartered PLCex-dividend payment date
Temple Bar Investment Trust PLCex-dividend payment date
Utilico Emerging Markets Trust PLCex-dividend payment date
Vaalco Energy Incex-dividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Feb 2024 11:43

South32 agrees to USD1.65 billion Illawarra metallurgical coal sale

(Alliance News) - South32 Ltd on Thursday said it agreed to its Illawarra metallurgical coal asset to an entity owned by Golden Energy & Resources Pte Ltd and M Resources Pty Ltd for a total USD1.65 billion.

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16 Feb 2024 09:51

LONDON BROKER RATINGS: Barclays starts Dowlais at 'overweight'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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15 Feb 2024 07:56

LONDON BRIEFING: Relx optimistic; BHP to book USD6 billion hit

(Alliance News) - Equity prices in London are called to open higher on Thursday, overlooking a poor reading of the UK economy and clinging onto Bank of England interest rate optimism following Wednesday's softer-than-expected inflation reading.

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15 Feb 2024 07:35

TOP NEWS: South32 chops dividend and halts buyback as profit crashes

(Alliance News) - South32 Ltd on Thursday slashed its interim dividend as profit tumbled due to weaker commodity prices and lower coal volumes.

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9 Feb 2024 16:10

UK earnings, trading statements calendar - next 7 days

Monday 12 February 
no events scheduled 
Tuesday 13 February 
Tui AGQ1 Results
Wednesday 14 February 
Coca-Cola HBC AGFull Year Results
Dunelm PLCHalf Year Results
Pan African Resources PLCHalf Year Results
Severn Trent PLCTrading Statement
United Utilities Group PLCTrading Statement
Thursday 15 February 
Benchmark Holdings PLCQ1 Results
Centrica PLCFull Year Results
MJ Gleeson PLCHalf Year Results
Relx PLCFull Year Results
South32 LtdHalf Year Results
Friday 16 February 
NatWest Group PLCFull Year Results
Segro PLCFull Year Results
TBC Bank Group PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
24 Jan 2024 09:11

LONDON BROKER RATINGS: UBS cuts BAT to 'neutral'; Barclays cuts Senior

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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22 Jan 2024 08:19

TOP NEWS: South32 production performance mixed in first half

(Alliance News) - South32 Ltd said on Monday market conditions had improved as it entered the second half of its financial year after delivering mixed production performance in the first six months.

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12 Jan 2024 09:14

LONDON BROKER RATINGS: Goldman likes Glencore; BofA likes easyJet

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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4 Dec 2023 07:50

Glencore completes Mineracao Rio do Norte and Alunorte acquisitions

(Alliance News) - Glencore PLC has tied up its acquisition of 30% stake in Alunorte SA and a 45% interest in Mineracao Rio do Norte SA from Norsk Hydro ASA for a combined USD775 million.

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28 Nov 2023 07:37

IN BRIEF: Ex-Rio Tinto executive Sharon Warburton joins South32 board

South32 Ltd - Perth-based diversified mining group - Appoints Sharon Warburton as a non-executive director with immediate effect. Says it chooses Warburton following a search to identify a director with "strong skills and leadership" experience in commercial, accounting and finance, risk management and governance. She is a non-executive director with Northern Star Resources Ltd, Wesfarmers Ltd and Worley Ltd and serves on a number of unlisted boards.

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