South32 (LON:S32) Trading Up 4.6% – Here’s Why

South32 Limited (LON:S32) shot up 4.6% on Friday . The company traded as high as GBX 142.60 ($1.92) and last traded at GBX 140.60 ($1.90). 2,204,139 shares traded hands during trading, an increase of 541% from the average session volume of 343,778 shares. The stock had previously closed at GBX 134.40 ($1.81).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a “hold” rating and set a GBX 130 target price on shares of South32 in a research note on Thursday, August 14th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, South32 presently has a consensus rating of “Reduce” and a consensus price target of GBX 125.

South32 Price Performance

The company has a market capitalization of £6.32 billion, a PE ratio of 2,991.49, a price-to-earnings-growth ratio of 7.26 and a beta of 0.91. The stock’s 50 day simple moving average is GBX 135.22 and its 200-day simple moving average is GBX 140.06.

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.