South32 (LON:S32) Trading 9.7% Higher Following Analyst Upgrade

South32 Limited (LON:S32) shot up 9.7% on Monday after Citigroup upgraded the stock to a buy rating. Citigroup now has a GBX 280 price target on the stock, up from their previous price target of GBX 260. South32 traded as high as GBX 230 and last traded at GBX 226. 1,787,255 shares were traded during mid-day trading, an increase of 88% from the average session volume of 952,224 shares. The stock had previously closed at GBX 206.

South32 Stock Performance

The firm has a fifty day simple moving average of GBX 228.66 and a 200-day simple moving average of GBX 184.96. The company has a market capitalization of £10.50 billion, a PE ratio of 33.50, a P/E/G ratio of 7.26 and a beta of 0.70.

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.