Citigroup Reiterates Buy Rating for South32 (ASX:S32)

Citigroup restated their buy rating on shares of South32 (ASX:S32 – Get Rating) in a research report sent to investors on Monday, Digital Look reports.

A number of other analysts also recently weighed in on the stock. Barclays restated an underweight rating on shares of South32 in a report on Thursday, February 16th. Royal Bank of Canada boosted their target price on shares of South32 from GBX 450 ($5.60) to GBX 460 ($5.72) and gave the stock an outperform rating in a report on Tuesday, January 24th.

South32 Price Performance

The company has a quick ratio of 1.69, a current ratio of 2.06 and a debt-to-equity ratio of 17.64. The company’s fifty day simple moving average is A$224.85 and its 200 day simple moving average is A$237.13.

South32 Increases Dividend

The business also recently disclosed a Interim dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, April 5th were given a $0.071 dividend. This represents a yield of 1.56%. This is a boost from South32’s previous Interim dividend of $0.02. The ex-dividend date was Wednesday, March 8th. South32’s payout ratio is 37.33%.

Insider Transactions at South32

In other South32 news, insider Graham Kerr 1,976,772 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. Corporate insiders own 0.49% of the company’s stock.

About South32

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South32 Limited operates as a diversified metals and mining company in Australia, Southern Africa, North America, and South America. 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.