South32 (LON:S32) Reaches New 12-Month High – Here’s Why

South32 Limited (LON:S32) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 281 and last traded at GBX 278, with a volume of 177219 shares traded. The stock had previously closed at GBX 272.40.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on S32. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 310 price objective on shares of South32 in a research note on Friday, August 28th. Citigroup boosted 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. Finally, Royal Bank Of Canada reaffirmed a “neutral” rating on shares of South32 in a research report on Thursday, August 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 1,755.

South32 Price Performance

The firm has a market cap of £12.45 billion, a price-to-earnings ratio of 39.74, a P/E/G ratio of 7.26 and a beta of 0.68. The firm has a fifty day simple moving average of GBX 238.18 and a two-hundred day simple moving average of GBX 234.

Insider Transactions at South32

In other South32 news, insider Stephen Pearce bought 40,000 shares of South32 stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average price of GBX 5 per share, with a total value of £2,000. Corporate insiders own 0.31% of the company’s stock.

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.