South32 (S32) Upgraded to Buy at Citigroup

Citigroup upgraded shares of South32 (LON:S32) to a buy rating in a research report sent to investors on Friday morning. The brokerage currently has GBX 230 ($2.97) target price on the stock, up from their previous target price of GBX 205 ($2.64).

A number of other research firms have also issued reports on S32. UBS Group reiterated a neutral rating on shares of South32 in a research note on Thursday, July 26th. HSBC downgraded shares of South32 to a hold rating and increased their price objective for the company from GBX 225 ($2.90) to GBX 240 ($3.10) in a research report on Thursday, June 21st. Deutsche Bank reaffirmed a hold rating on shares of South32 in a research report on Tuesday, June 19th. Liberum Capital increased their price objective on shares of South32 from GBX 90 ($1.16) to GBX 185 ($2.39) and gave the company a sell rating in a research report on Friday, May 18th. Finally, Barclays increased their price objective on shares of South32 from GBX 225 ($2.90) to GBX 260 ($3.35) and gave the company an overweight rating in a research report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of GBX 211.25 ($2.73).

South32 stock opened at GBX 198.20 ($2.56) on Friday. South32 has a 52-week low of GBX 143.25 ($1.85) and a 52-week high of GBX 236 ($3.04).

The firm also recently announced a dividend, which will be paid on Thursday, October 11th. Stockholders of record on Thursday, September 13th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a dividend yield of 2.49%.

South32 Company Profile

South32 Limited operates as a diversified metals and mining company primarily in Australia, Southern Africa, and South America. The company has a portfolio of assets producing alumina, aluminum, bauxite, energy and metallurgical coal, manganese ore and alloy, ferronickel, silver, lead, and zinc. It also exports its products.

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Analyst Recommendations for South32 (LON:S32)

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