South32 Limited (DI) (S32)

Sector:

Mining

182.70p
   
  • Change Today:
    -2.10p
  • 52 Week High: 207.20
  • 52 Week Low: 143.60
  • Currency: UK Pounds
  • Shares Issued: 4,528.23m
  • Volume: 543,176
  • Market Cap: £8,273m

Credit Suisse stays 'underweight' on non-financial cyclicals but adds to miners

By Alexander Bueso

Date: Tuesday 03 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Credit Suisse reiterated their 'underweight' stance for most European non-financial cyclicals on valuation grounds - but not on miners.

According to the Swiss broker, stocks in the sector were pricing-in Purchasing Managers' Indices at 73.0 points which were consistent with euro area GDP growth of 6.5%.

Furthermore, relative price-to-earnings and price-to-book values were right at the top of their valuation range with cyclicals having outperformed more than in any other period from peak to trough.

"We are underweight hotels, retailing, parts of capital goods, freight forwarders and luxury (we reduce our weightings in all of these areas to make up for an increase to our weighting in mining)," they said in a research report sent to clients.

Mining however had outperformed in many periods when cyclicals had underperformed.

Macro was now "much more" supportive too, they explained.

The bulk of Chinese tightening and the slowdown in PMIs was now behind investors, economists at Credit Suisse expected momentum in global industrial production to accelerate and inflation expectations were set to rise.

They also believed the so-called 'bear market rally' in the US dollar was "close to an end".

Among other stocks, Credit Suisse highlighted shares of Anglo American, Rio Tinto, First Quantum, Alcoa and South 32.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

S32 Market Data

Currency UK Pounds
Share Price 182.70p
Change Today -2.10p
% Change -1.14 %
52 Week High 207.20
52 Week Low 143.60
Volume 543,176
Shares Issued 4,528.23m
Market Cap £8,273m

S32 Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
48.87% above the market average48.87% above the market average48.87% above the market average48.87% above the market average48.87% above the market average
44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average
Price Trend
4.73% above the market average4.73% above the market average4.73% above the market average4.73% above the market average4.73% above the market average
90.00% above the sector average90.00% above the sector average90.00% above the sector average90.00% above the sector average90.00% above the sector average
Income
75.37% above the market average75.37% above the market average75.37% above the market average75.37% above the market average75.37% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
36.76% above the market average36.76% above the market average36.76% above the market average36.76% above the market average36.76% above the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average

What The Brokers Say

Strong Buy 3
Buy 5
Neutral 5
Sell 0
Strong Sell 0
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

S32 Dividends

  Latest Previous
  Final Interim
Ex-Div 19-Sep-24 07-Mar-24
Paid 17-Oct-24 04-Apr-24
Amount 3.10¢ 0.40¢

Trades for 31-Oct-2024

Time Volume / Share Price
16:47 7,469 @ 182.56p
16:35 68,234 @ 182.70p
16:35 498 @ 182.70p
16:35 720 @ 182.70p
16:35 1,446 @ 182.70p

S32 Key Personnel

Chair Karen Wood

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