South32 (LON:S32) Shares Up 4.6% - Should You Buy?

Key Points

• South32 Limited shares rose by 4.6% on Friday, closing at GBX 140.60 ($1.90) after reaching a high of GBX 142.60 ($1.92), with trading volume significantly above average.
• Wall Street analysts have given South32 a consensus rating of "Reduce" with a price target of GBX 125, while Canaccord Genuity maintains a "hold" rating with a price objective of GBX 130.
• The company, which has a market cap of £6.32 billion, engages in diversified metals and mining operations across several international markets, including Australia, Africa, and South America.

South32 Limited (LON:S32 - Get Free Report) shares were up 4.6% during trading on Friday . The stock traded as high as GBX 142.60 ($1.92) and last traded at GBX 140.60 ($1.90). Approximately 2,204,139 shares changed hands during trading, an increase of 541% from the average daily volume of 343,778 shares. The stock had previously closed at GBX 134.40 ($1.81).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a "hold" rating and issued a GBX 130 price objective on shares of South32 in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of GBX 125.

South32 Price Performance

The stock has a market cap of £6.32 billion, a PE ratio of 2,991.49, a price-to-earnings-growth ratio of 7.26 and a beta of 0.91. The stock's fifty day moving average is GBX 135.22 and its 200-day moving average is GBX 140.06.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.