Sydney, Jan 25, 2026, 17:42 AEDT — Market closed.
- Shares of South32 closed Friday at A$4.39, hovering close to their 52-week high.
- The ASX will be closed Monday in observance of Australia Day, with trading resuming Tuesday.
- Attention turns to South32’s half-year results and interim dividend announcement on Feb. 12.
South32 Ltd shares closed Friday at A$4.39, slipping 0.2% after hitting a 52-week high of A$4.46 earlier in the session. The stock also dipped to a low of A$4.355. 1
The miner faces a tight window to extend last week’s gains before its next big event. South32 announced Feb. 12 for its half-year results and interim dividend decision. The ex-dividend date on the ASX and LSE will be March 5, with the payout expected around April 2. 2
Local trading halts first. The Australian Securities Exchange shuts Monday for the Australia Day public holiday, so South32 won’t report locally until Tuesday.
South32’s December 2025 quarterly report, released Thursday, left FY26 production guidance steady for its operated assets. First-half operating unit costs came in line with guidance at most sites, the company said. CEO Graham Kerr highlighted “consistent operating results” and noted progress on the Hermosa growth project. The firm also flagged a temporary working capital build, linked to higher commodity prices and sales timing. 3
Broker notes accelerated the late-week shift. UBS raised South32 to a “buy” rating, up from “neutral,” and hiked its price target from 205 pence to 250 pence for the London-listed stock. The firm pointed to better operations and drew parallels with valuation multiples of U.S. aluminium producer Alcoa, according to a report on Investing.com. 4
When the screens light up again, the stock faces a straightforward test: will buyers continue to pay near the year’s high, or will they back off ahead of the half-year results?
South32 warned its Mozal aluminium smelter in Mozambique will move to “care and maintenance” around March 15. Production will slow, with the site essentially mothballed, after the company failed to lock in a new electricity supply contract beyond March. 5
Beyond that, the familiar mining risks remain: volatile aluminium and base metals prices, currency moves against the Australian dollar, and rising costs at energy-intensive sites can all erode margins unexpectedly.
