Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Antofagasta (LON:ANTO) Stock

Key Points

• Deutsche Bank has raised its target price for Antofagasta from GBX 1,950 to GBX 2,000, indicating a potential upside of 3.17% from the stock's previous close.
• Analysts from other firms have also upgraded their price targets for Antofagasta, with JPMorgan setting a target of GBX 2,500 and Citigroup at GBX 2,200, reflecting positive sentiment towards the mining company.
• Antofagasta's stock has a consensus rating of "Moderate Buy" and an average price target of GBX 2,104.17, further showcasing analyst confidence in the company's performance.

Antofagasta (LON:ANTO - Free Report) had its price objective boosted by Deutsche Bank Aktiengesellschaft from GBX 1,950 ($26.23) to GBX 2,000 ($26.90) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have a hold rating on the mining company's stock.

A number of other analysts have also recently commented on the company. Berenberg Bank reiterated a "buy" rating and set a GBX 2,100 ($28.24) target price on shares of Antofagasta in a research report on Thursday, July 31st. Citigroup lifted their target price on Antofagasta from GBX 2,000 ($26.90) to GBX 2,200 ($29.59) and gave the stock a "buy" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on Antofagasta from GBX 2,400 ($32.28) to GBX 2,500 ($33.62) and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a GBX 1,700 ($22.86) price target on shares of Antofagasta in a report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 2,104.17 ($28.30).

Antofagasta Stock Performance

Shares of ANTO traded up GBX 50 ($0.67) during midday trading on Monday, reaching GBX 2,024 ($27.22). 746,102 shares of the stock were exchanged, compared to its average volume of 2,601,099. The business's 50-day moving average price is GBX 1,874.79 and its 200 day moving average price is GBX 1,776.69. 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 ($17.19) and a twelve month high of GBX 2,097.50 ($28.21). The company has a market capitalization of £24.94 billion, a price-to-earnings ratio of 32.63, a PEG ratio of -1.08 and a beta of 1.00.

Antofagasta Company Profile

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.