Canaccord Genuity Group Reiterates Sell Rating for South32 (LON:S32)

South32 (LON:S32)‘s stock had its “sell” rating restated by investment analysts at Canaccord Genuity Group in a report released on Friday, MarketBeat Ratings reports. They currently have a GBX 120 ($1.51) target price on the stock. Canaccord Genuity Group’s target price would suggest a potential downside of 28.91% from the company’s current price.

Several other brokerages also recently issued reports on S32. Royal Bank of Canada lowered their price target on South32 from GBX 380 ($4.80) to GBX 370 ($4.67) and set an “outperform” rating for the company in a report on Friday, August 30th. Citigroup downgraded shares of South32 to a “neutral” rating in a research note on Thursday.

South32 Price Performance

LON S32 opened at GBX 168.80 ($2.13) on Friday. The business’s 50-day simple moving average is GBX 186.76 and its 200-day simple moving average is GBX 178.75. The firm has a market capitalization of £7.61 billion, a P/E ratio of -1,534.55, a P/E/G ratio of 7.26 and a beta of 0.91. South32 has a 1-year low of GBX 141.50 ($1.79) and a 1-year high of GBX 209.60 ($2.65).

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.