South32 (LON:S32) Stock Price Up 2.1% – Here’s Why

South32 Limited (LON:S32) traded up 2.1% on Monday . The stock traded as high as GBX 193.40 ($2.53) and last traded at GBX 193.20 ($2.52). 282,790 shares changed hands during trading, a decline of 40% from the average session volume of 473,063 shares. The stock had previously closed at GBX 189.20 ($2.47).

Wall Street Analyst Weigh In

S32 has been the topic of several recent research reports. Canaccord Genuity Group restated a “sell” rating and set a GBX 55 ($0.72) price target on shares of South32 in a report on Thursday, August 29th. Citigroup reissued a “neutral” rating on shares of South32 in a research report on Monday, June 17th. Finally, Royal Bank of Canada dropped their target price on South32 from GBX 380 ($4.96) to GBX 370 ($4.83) and set an “outperform” rating for the company in a research report on Friday, August 30th.

South32 Stock Up 2.1 %

The stock has a market capitalization of £8.71 billion, a PE ratio of -1,756.36, a price-to-earnings-growth ratio of 7.26 and a beta of 0.91. The stock’s 50 day moving average price is GBX 164.15 and its 200-day moving average price is GBX 176.62.

South32 Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be paid a $0.03 dividend. This is an increase from South32’s previous dividend of $0.00. This represents a yield of 1.51%. The ex-dividend date is Thursday, September 19th. South32’s dividend 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.