South32 (LON:S32) Shares Up 12.9% – Here’s What Happened

South32 Limited (LON:S32 – Get Free Report)’s share price shot up 12.9% during mid-day trading on Wednesday . The company traded as high as GBX 231.70 and last traded at GBX 230. Approximately 2,020,656 shares were traded during mid-day trading, an increase of 121% from the average daily volume of 912,477 shares. The stock had previously closed at GBX 203.80.

Analysts Set New Price Targets

S32 has been the subject of a number of research reports. Citigroup lifted their price target on South32 from GBX 3,000 to GBX 3,200 and gave the stock a “buy” rating in a research note on Monday, June 8th. Jefferies Financial Group restated a “buy” rating and set a GBX 300 price objective on shares of South32 in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 1,210.

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South32 Stock Up 12.9%

The firm’s 50 day simple moving average is GBX 230.74 and its two-hundred day simple moving average is GBX 221.29. The stock has a market cap of £10.30 billion, a P/E ratio of 32.86, a price-to-earnings-growth ratio of 7.26 and a beta of 0.67.

South32 Company Profile

(Get Free Report)

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.

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