South32 Better Placed for Copper Growth After Selling Aluminum Assets

Dow Jones07-02 12:20

0420 GMT - South32's aluminum sale pleases Macquarie, which reckons the miner will be better able to pursue copper growth as a result. The deal "daylights value in the upstream portfolio, closing out the conglomerate discount and moving S32 to a simpler growth focus," it says. Macquarie views the up to US$5.6 billion deal as being broadly value neutral. It trims its target on the stock by 2.2% to A$4.50 and retains a neutral rating. But "we believe the company should now be able to focus purely on progressing attractive Cu/Zn [copper/zinc] development alternatives, with the added firepower of a deleveraged balance sheet and simpler operating model," it says. Shares are down 1.6% at A$4.21 after gaining 9.7% Wednesday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

July 02, 2026 00:20 ET (04:20 GMT)

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The deal \"daylights value in the upstream portfolio, closing out the conglomerate discount and moving S32 to a simpler growth focus,\" it says. Macquarie views the up to US$5.6 billion deal as being broadly value neutral. It trims its target on the stock by 2.2% to A$4.50 and retains a neutral rating. But \"we believe the company should now be able to focus purely on progressing attractive <a href=\"https://laohu8.com/S/CUNB\">Cu</a>/Zn [copper/zinc] development alternatives, with the added firepower of a deleveraged balance sheet and simpler operating model,\" it says. Shares are down 1.6% at A$4.21 after gaining 9.7% Wednesday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 02, 2026 00:20 ET (04:20 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DBB","symbol_name":"基础金属ETF-PowerShares","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2648576746","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2648576746","pubTimestamp":1782966000,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0420 GMT - South32's aluminum sale pleases Macquarie, which reckons the miner will be better able to pursue copper growth as a result. 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The deal \"daylights value in the upstream portfolio, closing out the conglomerate discount and moving S32 to a simpler growth focus,\" it says. Macquarie views the up to US$5.6 billion deal as being broadly value neutral. It trims its target on the stock by 2.2% to A$4.50 and retains a neutral rating. But \"we believe the company should now be able to focus purely on progressing attractive Cu/Zn [copper/zinc] development alternatives, with the added firepower of a deleveraged balance sheet and simpler operating model,\" it says. Shares are down 1.6% at A$4.21 after gaining 9.7% Wednesday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 02, 2026 00:20 ET (04:20 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.1","shortVersion":"4.44.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2648576746","isCrawlerRequest":true}