South32 (OTCMKTS:SOUHY) Shares Gap Down - Here's Why

Key Points

• South32 Ltd. shares gapped down significantly, opening at $9.63 after closing at $10.17, with the latest trade at $9.92 and a volume of 450 shares.
• Multiple research analysts have downgraded South32 from "strong-buy" to a "hold" rating, reflecting a cautious outlook, with one analyst issuing a sell rating.
• The stock has an average rating of "Hold" and is currently priced below its 50-day and 200-day moving averages of $9.77 and $10.05, respectively.
• South32 operates as a diversified metals and mining company with segments spread across several countries, including operations in Australia, South Africa, and Brazil.

South32 Ltd. (OTCMKTS:SOUHY - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $10.17, but opened at $9.63. South32 shares last traded at $9.92, with a volume of 450 shares changing hands.

Analyst Upgrades and Downgrades

SOUHY has been the subject of a number of research reports. Canaccord Genuity Group upgraded South32 from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. BNP Paribas upgraded South32 to a "neutral" rating in a research note on Wednesday, April 23rd. The Goldman Sachs Group downgraded South32 from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 7th. Finally, Citigroup downgraded South32 from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold".

South32 Stock Performance

The stock's fifty day simple moving average is $9.78 and its 200-day simple moving average is $10.04. The company has a quick ratio of 1.98, a current ratio of 2.83 and a debt-to-equity ratio of 0.15.

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.