South32 (LON:S32) Price Target Raised to GBX 130 at Canaccord Genuity Group

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 target price boosted by research analysts at Canaccord Genuity Group from GBX 125 ($1.66) to GBX 130 ($1.72) in a research report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a "hold" rating on the stock. Canaccord Genuity Group's target price would indicate a potential downside of 10.71% from the stock's current price.

South32 Price Performance

Shares of LON S32 traded up GBX 0.80 ($0.01) during midday trading on Tuesday, hitting GBX 145.60 ($1.93). 154,963 shares of the company's stock were exchanged, compared to its average volume of 349,029. South32 has a twelve month low of GBX 117 ($1.55) and a twelve month high of GBX 199.90 ($2.65). The company has a market cap of £8.19 billion, a PE ratio of 102.30, a P/E/G ratio of 7.26 and a beta of 0.91. The firm's fifty day simple moving average is GBX 144.36 and its 200-day simple moving average is GBX 153.66.

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.