JPMorgan keeps AUD 5.00 target for South32 stock

Published on 10/20/2026 at 22:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Copper output rose 11.00 percent in September 2026. South32 stock costs EUR 2.74 on October 20, 2026, down 2.44 percent on the ASX.

Reporting and valuation points

JPMorgan maintained an AUD 5.00 target for South32 on October 2, 2026.
Sierra Gorda copper equivalent production rose 11.00 percent to 22.40 kilotonnes in the September 2026 quarter.
South32 stock cost EUR 2.74 at Lang & Schwarz on October 20, 2026 at 10:02 p.m. CEST.
South32 had AUD 19.7 billion in market capitalization and a 12.84 price-to-earnings ratio on October 20, 2026.

South32, AU000000S320, Illustration mit AI erstellt.

JPMorgan maintained its South32 target at AUD 5.00 on October 2, 2026, up from AUD 4.80, according to Investing.com. The AUD 4.40 ASX price on October 20, 2026 was 12.00 percent below that target. South32 stock was quoted at EUR 2.74 at Lang & Schwarz on October 20, 2026 at 10:02 p.m. CEST, while the ASX price was down 2.44 percent on the day.

Copper production sets the operating tone

South32's Sierra Gorda operation increased payable copper equivalent production 11.00 percent year over year to 22.40 kilotonnes in the September 2026 quarter. The figure was 500 tonnes below the 19,200-tonne consensus cited by Mugglehead, while South32 kept its full-year production guidance unchanged.

What does the price position show?

The ASX quote stood at AUD 4.40 on October 20, 2026, within a 52-week range of AUD 2.96 to AUD 5.33. That places the stock 17.45 percent below its 52-week high and 48.65 percent above its low. Trading volume reached 12,289,890 shares, compared with an average of 16,072,705 shares.

South32 reported net cash of USD 297.00 million at the end of the September 2026 quarter, an increase of USD 14.00 million. It also received a USD 153.00 million distribution from Sierra Gorda and invested USD 197.00 million in the Hermosa project, according to the South32 quarterly report released on October 19, 2026.

Valuation and upcoming dates

South32 had a market capitalization of AUD 19.7 billion and a price-to-earnings ratio of 12.84 on October 20, 2026. Its capital management program was 92.00 percent complete, with USD 196.00 million remaining for shareholder returns before September 10, 2027.

The aluminium value chain transaction with Alcoa is expected to complete in the June 2027 half year, subject to regulatory approvals. The September 2026 quarterly report also said both Hermosa shafts are expected to reach the primary production level in the December 2026 quarter.

Comparison with peers

South32: down 2.44 percent, price-to-earnings ratio 12.84, market capitalization AUD 19.7 billion.

BHP Group (ASX, AUD): down 1.59 percent, price-to-earnings ratio 21.58, market capitalization AUD 302.4 billion.

Rio Tinto (ASX, AUD): down 0.43 percent, price-to-earnings ratio 11.88, market capitalization AUD 222.0 billion.

South32 stock and the trading frame

South32 last traded at EUR 2.74 at Lang & Schwarz on October 20, 2026 at 10:02 p.m. CEST. The ASX price was AUD 4.40 at 4:10 p.m. AEDT on the same date, down 2.44 percent from the prior ASX close.

The further course of trading is shown by the continuously updated real-time quote of South32 stock.