South32 (LON:S32) Reaches New 12-Month High – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on S32. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of South32 in a report on Thursday, August 27th. Citigroup raised their price target on shares of South32 from GBX 3,000 to GBX 3,200 and gave the stock a “buy” rating in a research report on Monday, June 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 310 price target on shares of South32 in a report on Friday, August 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, South32 currently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,755.

South32 Stock Performance

The firm has a market cap of £12.38 billion, a P/E ratio of 39.51, a P/E/G ratio of 7.26 and a beta of 0.68. The firm has a fifty day moving average of GBX 240.99 and a 200-day moving average of GBX 234.65.

Insider Transactions at South32

In other news, insider Stephen Pearce acquired 40,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were purchased at an average cost of GBX 5 per share, for a total transaction of £2,000. Insiders own 0.31% of the company’s stock.

South32 Company Profile

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.