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

South32 (LON:S32) had its price objective hoisted by Canaccord Genuity Group from GBX 115 ($1.48) to GBX 120 ($1.54) in a research note released on Wednesday, MarketBeat reports. Canaccord Genuity Group currently has a sell rating on the stock.

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

South32 Trading Down 1.3 %

Shares of LON:S32 opened at GBX 178 ($2.29) on Wednesday. South32 has a 1 year low of GBX 141.50 ($1.82) and a 1 year high of GBX 209.60 ($2.70). The firm has a fifty day moving average price of GBX 177.98 and a 200 day moving average price of GBX 179.56. The stock has a market capitalization of £8.03 billion, a PE ratio of -1,640.00, a P/E/G ratio of 7.26 and a beta of 0.91.

South32 Increases Dividend

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

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.