Citigroup Lowers South32 (LON:S32) to Neutral

Citigroup downgraded shares of South32 (LON:S32) to a neutral rating in a research note released on Tuesday morning, Marketbeat reports.

S32 has been the topic of several other reports. Royal Bank of Canada lowered their target price on shares of South32 from GBX 370 ($4.57) to GBX 350 ($4.32) and set an outperform rating on the stock in a report on Wednesday, March 20th. Barclays reaffirmed an overweight rating and set a GBX 193 ($2.38) target price on shares of South32 in a report on Thursday, February 29th.

South32 Stock Up 3.9 %

South32 stock opened at GBX 176.20 ($2.18) on Tuesday. The stock has a market cap of £7.98 billion, a P/E ratio of -1,258.57, a P/E/G ratio of 4.40 and a beta of 0.92. South32 has a twelve month low of GBX 143.40 ($1.77) and a twelve month high of GBX 224.50 ($2.77). The company’s 50-day moving average price is GBX 158.29 and its two-hundred day moving average price is GBX 165.83.

South32 Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 7th were paid a dividend of $0.00 per share. This represents a yield of 0.2%. The ex-dividend date of this dividend was Thursday, March 7th. South32’s dividend payout ratio is presently -2,142.86%.

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.