0446 GMT - South32 bull Morgan Stanley sees negligible change to its valuation on the miner's Hermosa project in Arizona from a site visit this week. South32's "Hermosa presentation broadly reiterates the April 2026 project update assumptions," says MS. The miner previously flagged the potential to increase production above current design rates via plant debottlenecking, says MS. "South32 expects the expansion to be achievable at low capital cost (though no capex estimate was provided)," it says. MS has an overweight rating and A$5.10/share target on the miner's stock. Shares are down 0.5% at A$4.905.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.