Antofagasta (LON:ANTO) Hits New 1-Year High on Analyst Upgrade

Antofagasta plc (LON:ANTO - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday after Berenberg Bank raised their price target on the stock from GBX 2,200 to GBX 2,900. Berenberg Bank currently has a buy rating on the stock. Antofagasta traded as high as GBX 2,875 ($38.53) and last traded at GBX 2,866 ($38.41), with a volume of 9658023 shares traded. The stock had previously closed at GBX 2,793 ($37.43).

Several other brokerages also recently issued reports on ANTO. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a GBX 1,700 price target on shares of Antofagasta in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Antofagasta from GBX 1,950 to GBX 2,000 and gave the stock a "hold" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. restated an "overweight" rating and issued a GBX 2,500 price objective on shares of Antofagasta in a research note on Friday, August 15th. Finally, Citigroup restated a "buy" rating and issued a GBX 2,300 price objective on shares of Antofagasta in a research note on Friday, August 15th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Antofagasta has a consensus rating of "Moderate Buy" and a consensus price target of GBX 2,254.17.

Antofagasta Trading Up 1.5%

The company has a 50 day moving average of GBX 2,262.97 and a 200 day moving average of GBX 1,932.53. The company has a current ratio of 2.14, a quick ratio of 2.78 and a debt-to-equity ratio of 65.33. The firm has a market cap of £27.96 billion, a price-to-earnings ratio of 2,561.88, a price-to-earnings-growth 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.

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