South32 (OTCMKTS:SOUHY) Shares Gap Down - What's Next?

Key Points

• South32 shares gapped down on Wednesday, opening at $8.24 after closing at $8.56, with a trading volume of 308 shares.
• Multiple analysts have downgraded South32, with Jefferies and Citigroup both changing their ratings to "hold", reflecting a broader sentiment shift in the stock's outlook.
• The company announced a dividend of $0.1196 per share, set to be paid on October 16th, representing a notable yield of 316.0%.

Shares of South32 Ltd. (OTCMKTS:SOUHY - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $8.56, but opened at $8.24. South32 shares last traded at $8.24, with a volume of 308 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SOUHY. Jefferies Financial Group lowered shares of South32 from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Citigroup lowered shares of South32 from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Zacks Research cut shares of South32 from a "hold" rating to a "strong sell" rating in a research report on Friday, September 19th. Finally, The Goldman Sachs Group lowered South32 from a "strong-buy" rating to a "hold" rating in a report on Monday, July 7th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Reduce".

South32 Price Performance

The stock has a fifty day simple moving average of $9.24 and a 200-day simple moving average of $9.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.83 and a current ratio of 2.43.

South32 Dividend Announcement

The company also recently declared a dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, September 22nd will be given a dividend of $0.1196 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a yield of 316.0%.

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.

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