blue-chip

One Metals & Mining Likely to Benefit Increased Production & Cost Cutting Initiatives – S32

Mar 17, 2024 | Team Kalkine

Read Time :10 Mins

One Metals & Mining Likely to Benefit Increased Production & Cost Cutting Initiatives – S32

S32:ASX

Investment Type

Large-cap

Risk Level

Action

Rec. Price (AU$)

Company Overview: South32 Limited (ASX: S32) is a diversified mining and metal production company. Its segments include Worsley Alumina, Brazil Alumina, Brazil Aluminium, Hillside Aluminium, Mozal Aluminium, Sierra Gorda, Cannington Hermosa, Cerro Matoso, Illawarra Metallurgical Coal, Australia Manganese, and South Africa Manganese. Kalkine’s Daily Report covers the Key Financial Metrics, Risks, Outlook, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

Section 1.0: Key Metrics in Pictures

Having looked at the key financial metrics above the below sections provide in-depth fundamental, and technical analysis on this Materials Company along with recommendation, technical support, and resistance level & indicative stop-loss.

Section 2.0: South32 Limited (ASX: S32) (‘Buy’ at AUD 3.00 closing market price per share as of 15 March 2024)

Company Details

2.2 Valuation, Technical Summary & Stock Recommendation

The stock has witnessed a decline of ~7.4% in the last three months, and over the last one year, it has declined by ~24.9%. The stock has a 52-week low and 52-week high of AUD 2.750 and AUD 4.550, respectively and is currently trading below the 52-week high-low average. S32 was last covered in a report dated ’8 February 2024’.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 15 March 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

Small-Cap

One NASDAQ- Listed Aerospace & Defense Stock at Decent Technical Levels – ARBE Robotics