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South32 (S32) Receives a Buy from RBC Capital

Tipranks - Tipranks - Fri May 1, 9:00PM CDT

In a report released yesterday, Kaan Peker from RBC Capital maintained a Buy rating on South32, with a price target of A$4.50.

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Peker covers the Basic Materials sector, focusing on stocks such as IGO, South32, and PLS Group. According to TipRanks, Peker has an average return of 21.8% and a 55.30% success rate on recommended stocks.

In addition to RBC Capital, South32 also received a Buy from Barclays’s Ian Rossouw CFA in a report issued on April 24. However, on April 14, HSBC maintained a Hold rating on South32 (LSE: S32).

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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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