Berenberg Bank Reaffirms "Buy" Rating for Antofagasta (LON:ANTO)

Key Points

• Berenberg Bank has reaffirmed its "buy" rating for Antofagasta, setting a price target of GBX 2,100 ($27.74), indicating a potential upside of 12.87% from the last close.
• JPMorgan Chase & Co. and Citigroup have also raised their price targets for Antofagasta, reflecting overall analyst optimism with a consensus rating of "Moderate Buy".
• Antofagasta's stock recently opened at GBX 1,860.50 ($24.58), with a market cap of £22.92 billion and a one-year price range between GBX 1,278 ($16.88) and GBX 2,097.50 ($27.71).

Berenberg Bank reaffirmed their buy rating on shares of Antofagasta (LON:ANTO - Free Report) in a research report released on Thursday morning, Marketbeat.com reports. They currently have a GBX 2,100 ($27.88) price objective on the mining company's stock.

Other research analysts have also issued reports about the stock. Citigroup upped their target price on shares of Antofagasta from GBX 2,000 ($26.56) to GBX 2,200 ($29.21) and gave the stock a "buy" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. increased their target price on Antofagasta from GBX 2,400 ($31.87) to GBX 2,500 ($33.20) and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a GBX 1,700 ($22.57) price target on shares of Antofagasta in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of GBX 2,104.17 ($27.94).

Antofagasta Stock Up 0.7%

Shares of LON ANTO traded up GBX 13 ($0.17) during midday trading on Thursday, hitting GBX 1,890 ($25.10). 819,244 shares of the company's stock were exchanged, compared to its average volume of 2,664,137. The company has a market cap of £23.29 billion, a PE ratio of 30.47, a P/E/G ratio of -1.08 and a beta of 1.00. The company has a debt-to-equity ratio of 65.33, a current ratio of 2.14 and a quick ratio of 2.78. Antofagasta has a twelve month low of GBX 1,278 ($16.97) and a twelve month high of GBX 2,097.50 ($27.85). The firm's fifty day simple moving average is GBX 1,856.61 and its 200-day simple moving average is GBX 1,769.85.

About Antofagasta

Antofagasta plc is a copper mining group with significant by-product production and interests in transportation. The Group creates value for its stakeholders through the discovery, development and operation of copper mines. The Group is committed to generating value in a safe and sustainable way throughout the commodity cycle.