South32’s (S32) Sell Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group restated their sell rating on shares of South32 (LON:S32) in a research report report published on Thursday, MarketBeat reports. The brokerage currently has a GBX 55 ($0.73) price target on the stock.

Separately, Citigroup reissued a neutral rating on shares of South32 in a report on Monday, June 17th.

South32 Stock Performance

Shares of LON:S32 opened at GBX 160 ($2.11) on Thursday. The stock has a market capitalization of £7.25 billion, a price-to-earnings ratio of -1,230.77, a price-to-earnings-growth ratio of 18.09 and a beta of 0.93. South32 has a 1-year low of GBX 141.50 ($1.87) and a 1-year high of GBX 209.60 ($2.76). The company’s fifty day moving average is GBX 169.07 and its two-hundred day moving average is GBX 172.32.

South32 Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is 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 dividend payout ratio is currently -2,307.69%.

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.