Canaccord Genuity Group Boosts South32 (LON:S32) Price Target to GBX 120

South32 (LON:S32) had its target price lifted by equities researchers at Canaccord Genuity Group from GBX 115 ($1.48) to GBX 120 ($1.54) in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a “sell” rating on the stock. Canaccord Genuity Group’s price objective points to a potential downside of 33.07% from the company’s current price.

Separately, Royal Bank of Canada reduced their price objective on shares of South32 from GBX 380 ($4.89) to GBX 370 ($4.76) and set an “outperform” rating for the company in a research report on Friday, August 30th.

South32 Price Performance

S32 opened at GBX 179.30 ($2.31) on Wednesday. The firm has a market capitalization of £8.09 billion, a PE ratio of -1,630.00, a P/E/G ratio of 7.26 and a beta of 0.91. South32 has a fifty-two week low of GBX 141.50 ($1.82) and a fifty-two week high of GBX 209.60 ($2.70). The company’s 50-day moving average is GBX 178.39 and its 200 day moving average is GBX 179.63.

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.