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 target increased by Deutsche Bank Aktiengesellschaft from GBX 1,950 ($26.22) to GBX 2,000 ($26.90) in a research report sent to investors on Monday, MarketBeat reports. They currently have a hold rating on the mining company's stock.

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

Antofagasta Stock Performance

ANTO stock traded up GBX 4.50 ($0.06) during midday trading on Monday, reaching GBX 1,972 ($26.52). 829,950 shares of the company were exchanged, compared to its average volume of 2,613,559. Antofagasta has a one year low of GBX 1,278 ($17.19) and a one year high of GBX 2,097.50 ($28.21). The firm has a market capitalization of £24.30 billion, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00. The business has a 50-day moving average price of GBX 1,869.72 and a two-hundred day moving average price of GBX 1,774.88. The company has a debt-to-equity ratio of 65.33, a current ratio of 2.14 and a quick ratio of 2.78.

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.