Company Overview: South32 Limited (ASX: S32) is a globally diversified metals and mining company headquartered in Perth, Western Australia. The company produces a diverse portfolio of commodities such as bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal, manganese, and ferronickel. Its operations are spread across Australia, Brazil, South Africa, Chile, the United States, and other regions.  Kalkine’s Daily Report covers the Key Financial Metrics, Risks, Outlook, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

Section 1.0: Key Metrics in Pictures

Having looked at the key financial metrics above the below sections provide an in-depth fundamental, and technical analysis on this Materials Stock along with recommendation, technical support, and resistance level & indicative stop-loss.

Section 2.0: South32 Limited (ASX: S32) (‘Buy’ at AUD 3.220, closing market price as on 20 November 2025)

2.1 Company Details

2.2 Valuation, Technical Summary & Stock Recommendation

The stock has gained by around 5.23% in the last six months and over the last 1 year, it has corrected by around 12.97%. The stock has a 52-week low and 52-week high of AUD 2.470 and AUD 3.860, respectively. The stock price is currently trading around 52-week high and low average.

(Source: REFINITIV; Analysis by Kalkine Group)

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 20 November 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.    

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 5: Dividend Yield may vary as per the stock price movement.  

Technical Indicators Defined: - 

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.