South32 (OTCMKTS:SOUHY) Shares Gap Down - Time to Sell?

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) shares 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.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup cut South32 from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group cut South32 from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 7th. BNP Paribas raised South32 to a "neutral" rating in a research report on Wednesday, April 23rd. Finally, Canaccord Genuity Group raised South32 from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold".

South32 Stock Down 2.6%

The company has a 50-day moving average price of $9.77 and a 200-day moving average price of $10.05. The company has a current ratio of 2.83, a quick ratio of 1.98 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.

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.