The S&P/ASX 200 Index (ASX: XJO) has had a very pleasing month. Over the past four weeks or so, the ASX 200 has risen by a healthy 6%. But the South32 Ltd (ASX: S32) share price has done even better than that.
South32 shares have risen from $3.84 a month ago to the $4.29 the miner is commanding at this point of today's session. That's a giant leap worth 11.7%, including the pleasing 5% or thereabouts that the South32 share price has risen by today alone.
So with all of this green ink under the belt, is it too late to buy into the South32 share price? Or is this company just getting started?
Well, it is the latter if we ask one ASX fund manager.
Can the South32 share price keep rising?
Last week, my Fool colleague spoke to the co-founder of Katana Asset Management, Romano Sala Tenna. Sala Tenna named South32 as one of the ASX dividend shares that Katana is bullish on right now. Here's some of what he had to say about the miner:
I think they've been one of the best companies in terms of capital management. They've run the longest continuous [share] buyback in our stable, which we love to see. We don't like to call it a buyback, we call it a buy-and-back. Management is buying and backing themselves.
Now, some of their commodity prices have come off a bit, and they do run the risk at the moment of some downgrades in the coming months. But I think through the cycle, from these prices, you're not paying a premium as you are with some of the other resource plays.
But not all ASX experts agree. Tony Paterno, from ASX broker Ord Minnet, has a less optimistic view on South32 right now.
Speaking recently to The Bull, Paterno rated South32 as a hold. Although Paterno liked what the miner had to report in terms of copper and manganese operations for the September quarter, he noted other operations such as metallurgical coal, were "softer than expected".
Paterno stated that "we remain cautious about the global GDP outlook". He noted that "any material slowdown would impact commodity prices", which obviously wouldn't bode well for South32.
So a mixed outlook on this ASX 200 mining share from ASX experts today. Only time will tell who is right in their outlook.
In the meantime, the current South32 share price gives the miner a dividend yield of 8.64%.
