South32 (LON:S32) Shares Up 1.1% - Here's What Happened

Key Points

• South32 Limited's shares increased by 1.1%, trading at GBX 126 ($1.71) during mid-day trading.
• Canaccord Genuity has a "hold" rating on South32 with a target price set at GBX 130, while the overall average rating is "Reduce" with a target price of GBX 125.
• The company's market capitalization stands at £5.66 billion, with a notably high PE ratio of 2,680.85.

South32 Limited (LON:S32 - Get Free Report)'s share price rose 1.1% during trading on Thursday . The company traded as high as GBX 126 ($1.72) and last traded at GBX 126 ($1.72). Approximately 354,875 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 341,069 shares. The stock had previously closed at GBX 124.60 ($1.70).

Analyst Ratings Changes

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

South32 Price Performance

The stock has a 50 day simple moving average of GBX 138.70 and a two-hundred day simple moving average of GBX 143.65. The company has a market cap of £5.72 billion, a price-to-earnings ratio of 2,706.38, a price-to-earnings-growth ratio of 7.26 and a beta of 0.91.

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.