UBS: South32 - What was in focus at the Sydney round-table? We attended the S32 sellside roundtable with CEO Graham Kerr, CFO Sandy Sibenaler and Patrick Risner, President Hermosa. Discussion focused on the portfolio, growth and Hermosa FID. In particular, Hermosa's optionality beyond base case with Clark and Flux deposits, and FAST41 inclusion to expedite timelines. S32 remains our preferred diversified as free cashflow lifts from 0.4% FY24E to 7.7% FY25E on volume growth and improving commodity prices. We remain unchanged Buy rated A$3.75/sh.
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 (20min delay)
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Last
$2.85 |
Change
-0.030(1.04%) |
Mkt cap ! $12.84B | |||
| Open | High | Low | Value | Volume |
| $2.90 | $2.90 | $2.84 | $27.90M | 9.761M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 152898 | $2.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.86 | 205092 | 5 |
View Market Depth
| Last trade - 16.10pm 23/06/2025 (20 minute delay) ? |
| S32 (ASX) Chart |