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Barclays Gives a Buy Rating to South32 (S32)

Tipranks - Sun Apr 26, 7:22AM CDT

Barclays analyst Ian Rossouw CFA assigned a Buy rating to the stock yesterday. The company’s shares closed yesterday at A$4.32.

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Rossouw CFA covers the Basic Materials sector, focusing on stocks such as Antofagasta, South32, and Glencore. According to TipRanks, Rossouw CFA has an average return of 13.8% and a 57.39% success rate on recommended stocks.

South32 has an analyst consensus of Strong Buy, with a price target consensus of p263.46, implying a 5,998.61% upside from current levels. In a report released on April 23, Jefferies also maintained a Buy rating on the stock with a A$5.25 price target.

Based on South32’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$2.86 billion and a net profit of A$451.14 million. In comparison, last year the company earned a revenue of A$3.19 billion and had a net profit of A$360 million

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