South32 (LON:S32) Shares Climb 1.8% - Here's Why

Key Points

• South32 shares rose 1.8% to GBX 235.60, with trading volume 46% above the average session level.
• Analysts maintained a positive outlook: Jefferies reaffirmed a “buy” rating with a GBX 310 price target, while RBC retained its “outperform” rating. The consensus rating is “Buy.”
• South32 has a £10.55 billion market capitalization and operates a diversified portfolio spanning aluminum, copper, silver, lead, zinc, nickel, manganese, and metallurgical coal assets worldwide.

South32 Limited (LON:S32 - Get Free Report)'s stock price rose 1.8% on Wednesday. The stock traded as high as GBX 236.40 and last traded at GBX 235.60. Approximately 1,073,229 shares were traded during trading, an increase of 46% from the average session volume of 735,366 shares. The stock had previously closed at GBX 231.40.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on S32 shares. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 310 price objective on shares of South32 in a research report on Friday, August 28th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of South32 in a research note on Monday, September 14th. Three investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of GBX 1,755.

South32 Trading Up 1.8%

The company has a market cap of £10.55 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 7.26 and a beta of 0.75. The stock has a 50 day moving average price of GBX 256.81 and a two-hundred day moving average price of GBX 236.76.

Insider Activity

In other news, insider Stephen Pearce acquired 40,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of GBX 5 per share, for a total transaction of £2,000. 0.38% of the stock is owned by company insiders.

South32 Company Profile

South32 Limited operates as a diversified metals and mining company in Australia, India, China, Japan, the Middle East, Mozambique, the Netherlands, Brazil, Russia, South Africa, South Korea, the United States, and internationally. The company operates through Worsley Alumina, Brazil Alumina, Brazil Aluminium, Hillside Aluminium, Mozal Aluminium, Sierra Gorda, Cannington, Hermosa, Cerro Matoso, Illawarra Metallurgical Coal, Australia Manganese, and South Africa Manganese segments. It has a portfolio of assets producing bauxite, alumina, aluminum, copper, silver, lead, zinc, nickel, metallurgical coal, manganese, ferronickel, and other base metals.

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