South32 (LON:S32) Reaches New 52-Week High – What’s Next?

South32 Limited (LON:S32) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 282 and last traded at GBX 254.80, with a volume of 47870 shares. The stock had previously closed at GBX 255.

Analysts Set New Price Targets

S32 has been the topic of a number of research reports. Citigroup raised their price objective on South32 from GBX 3,000 to GBX 3,200 and gave the company a “buy” rating in a report on Monday, June 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of South32 in a research report on Monday. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 310 price target on shares of South32 in a research note on Friday, August 28th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, South32 presently has a consensus rating of “Buy” and a consensus target price of GBX 1,755.

South32 Stock Down 2.7%

The stock has a market cap of £11.42 billion, a PE ratio of 10.57, a P/E/G ratio of 7.26 and a beta of 0.70. The company has a fifty day moving average price of GBX 249.52 and a 200 day moving average price of GBX 236.47.

Insider Transactions at South32

In related news, insider Stephen Pearce purchased 40,000 shares of South32 stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of GBX 5 per share, for a total transaction of £2,000. 0.38% of the stock is currently owned by insiders.

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.