South32 (LON:S32) Trading 12.9% Higher – Time to Buy?

South32 Limited (LON:S32) rose 12.9% during trading on Wednesday . The company traded as high as GBX 231.70 and last traded at GBX 230. Approximately 2,020,656 shares changed hands during trading, an increase of 121% from the average daily volume of 912,477 shares. The stock had previously closed at GBX 203.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on S32 shares. Citigroup raised their price target on shares of South32 from GBX 3,000 to GBX 3,200 and gave the company a “buy” rating in a report on Monday, June 8th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 300 price objective on shares of South32 in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,210.

South32 Stock Performance

The company has a market capitalization of £10.30 billion, a PE ratio of 32.86, a PEG ratio of 7.26 and a beta of 0.67. The company has a 50 day moving average price of GBX 230.74 and a 200 day moving average price of GBX 221.29.

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. It has a portfolio of assets producing bauxite, alumina, aluminum, copper, silver, lead, zinc, nickel, metallurgical coal, manganese, ferronickel, and other base metals.