BUZZ-Australia's South32 falls; Macquarie cuts earnings outlook on weak results

Reuters
7 hours ago
BUZZ-Australia's South32 falls; <a href="https://laohu8.com/S/MQG.AU">Macquarie</a> cuts earnings outlook on weak results

** South32 S32.AX falls 2.2% to A$2.635, lowest since April 8

** Macquarie cuts FY25 EPS estimate by 8%, trims FY26-FY29 estimates by 1%-3% on Q3 production result misses due to weak result from Cannington mine

** Co lowered FY25 outlook for its Cannington mine last Thursday due to challenging geotechnical conditions, lower operator availability

** Brokerage holds PT at A$4.50

** Stock rated "buy" on avg; mean PT is A$3.61, per data compiled by LSEG

** S32 falls 22.7% YTD

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com;))

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