Canaccord Genuity Group Forecasts Strong Price Appreciation for South32 (LON:S32) Stock

Key Points

• Canaccord Genuity Group has raised the price target for South32 from GBX 125 to GBX 130, maintaining a "hold" rating on the stock.
• The adjusted target price indicates a potential downside of 10.34% from South32's previous close.
• As of Tuesday, South32 shares opened at GBX 145, showing a slight decrease of 0.1% in trading.

South32 (LON:S32 - Get Free Report) had its price objective boosted by research analysts at Canaccord Genuity Group from GBX 125 ($1.66) to GBX 130 ($1.73) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage presently has a "hold" rating on the stock. Canaccord Genuity Group's price objective would indicate a potential downside of 7.67% from the stock's previous close.

South32 Stock Down 0.4%

S32 traded down GBX 0.60 ($0.01) during midday trading on Tuesday, hitting GBX 140.80 ($1.87). The company had a trading volume of 258,081 shares, compared to its average volume of 347,067. South32 has a 52 week low of GBX 117 ($1.55) and a 52 week high of GBX 199.90 ($2.65). The company has a market capitalization of £7.92 billion, a price-to-earnings ratio of 98.93, a PEG ratio of 7.26 and a beta of 0.91. The stock's 50 day moving average price is GBX 144.16 and its 200 day moving average price is GBX 153.24.

About South32

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.