South32 (LON:S32) Reaches New 1-Year High – What’s Next?

Shares of South32 Limited (LON:S32) reached a new 52-week high on Tuesday . The stock traded as high as GBX 270 and last traded at GBX 270, with a volume of 412035 shares traded. The stock had previously closed at GBX 264.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on S32. Jefferies Financial Group restated a “buy” rating and set a GBX 300 target price on shares of South32 in a research report on Wednesday, July 1st. Citigroup lifted their target price on South32 from GBX 3,000 to GBX 3,200 and gave the stock a “buy” rating in a report on Monday, June 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of South32 in a research note on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 1,750.

South32 Price Performance

The firm has a market capitalization of £12.09 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 7.26 and a beta of 0.68. The business’s fifty day simple moving average is GBX 231.08 and its 200 day simple moving average is GBX 232.19.

About South32

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.