South32 (LON:S32) Given New GBX 120 Price Target at Canaccord Genuity Group

South32 (LON:S32) had its price objective lifted by Canaccord Genuity Group from GBX 115 ($1.45) to GBX 120 ($1.51) in a report released on Wednesday morning, Marketbeat reports. They currently have a sell rating on the stock.

Separately, Royal Bank of Canada decreased their target price on South32 from GBX 380 ($4.79) to GBX 370 ($4.66) and set an “outperform” rating for the company in a research report on Friday, August 30th.

South32 Stock Up 3.4 %

Shares of S32 stock opened at GBX 185.40 ($2.34) on Wednesday. The firm has a market cap of £8.36 billion, a P/E ratio of -1,685.45, a PEG ratio of 7.26 and a beta of 0.91. The company has a 50 day moving average of GBX 178.89 and a 200-day moving average of GBX 179.66. South32 has a 12-month low of GBX 141.50 ($1.78) and a 12-month high of GBX 209.60 ($2.64).

South32 Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th were given a $0.03 dividend. The ex-dividend date was Thursday, September 19th. This represents a dividend yield of 1.51%. This is a positive change from South32’s previous dividend of $0.00. South32’s payout ratio is -2,727.27%.

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.