Zacks Investment Research upgraded shares of SOUTH32 LTD SPON (NASDAQ:SOUHY) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $15.00 price objective on the basic materials company’s stock.

According to Zacks, “South32 Limited is a resources company. The Company primarily produces alumina, aluminium, coal, manganese, nickel, silver, lead and zinc. South32 Limited is based in Perth, Australia. “

Other equities analysts have also recently issued research reports about the company. Jefferies Group LLC cut SOUTH32 LTD SPON from a buy rating to a hold rating in a report on Thursday, June 8th. Macquarie reissued a neutral rating on shares of SOUTH32 LTD SPON in a report on Thursday, August 31st. Finally, HSBC Holdings plc reissued a hold rating on shares of SOUTH32 LTD SPON in a report on Friday, July 14th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. SOUTH32 LTD SPON presently has an average rating of Hold and an average target price of $15.00.

SOUTH32 LTD SPON (SOUHY) traded up 0.16% during trading on Wednesday, reaching $12.83. The company’s stock had a trading volume of 60,051 shares. The stock has a 50-day moving average of $12.32 and a 200 day moving average of $10.99. The firm has a market capitalization of $13.36 billion and a P/E ratio of 11.21. SOUTH32 LTD SPON has a one year low of $9.04 and a one year high of $13.39.

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