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The South32 Ltd share price continues to sink lower

Photo: Alumina

Unfortunately for its shareholders, the South32 Ltd (ASX: S32) share price is on course to finish the week in the red.

In early afternoon trade the diversified miner’s shares are down 2% to $2.69.

But despite recent volatility in its shares, they are still up by over 65% since this time last year. This is compared to a 12% gain by the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO).

There could be more gains ahead for its shares according to one leading broker.

A recent research note by RBC Capital Markets reveals that its analysts have an outperform rating and a $3.00 price target on its shares, according to Barron’s.

In addition to this, Motley Fool contributor Brendon Lau recently wrote that he thinks South 32 shares would be an attractive investment if its shares came down to $2.50.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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