Antofagasta (LON:ANTO) Reaches New 12-Month High - Still a Buy?

Key Points

• Antofagasta plc reached a new 52-week high of GBX 2,225 ($30.14) during trading, showcasing significant price movement from its previous close of GBX 2,152 ($29.15).
• Investment analysts have a generally positive outlook on the stock, with four analysts rating it as a Buy and a consensus price target of GBX 2,137.50.
• Antofagasta has a strong financial position, evidenced by a quick ratio of 2.78 and a debt-to-equity ratio of 65.33, indicating good liquidity and manageable debt levels.

Antofagasta plc (LON:ANTO - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 2,225 ($30.14) and last traded at GBX 2,220 ($30.07), with a volume of 669157 shares trading hands. The stock had previously closed at GBX 2,152 ($29.15).

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ANTO. Royal Bank Of Canada reissued a "sector perform" rating and set a GBX 1,700 price target on shares of Antofagasta in a research report on Thursday, July 24th. Berenberg Bank lifted their price target on shares of Antofagasta from GBX 2,100 to GBX 2,200 and gave the company a "buy" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. reissued an "overweight" rating and set a GBX 2,500 price target on shares of Antofagasta in a research report on Friday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Antofagasta from GBX 1,950 to GBX 2,000 and gave the company a "hold" rating in a research report on Monday, August 4th. Finally, Citigroup reissued a "buy" rating and set a GBX 2,300 price target on shares of Antofagasta in a research report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of GBX 2,137.50.

Antofagasta Price Performance

The company has a quick ratio of 2.78, a current ratio of 2.14 and a debt-to-equity ratio of 65.33. The firm has a market capitalization of £21.67 billion, a PE ratio of 1,985.55, a PEG ratio of -1.08 and a beta of 1.00. The firm's fifty day simple moving average is GBX 2,012.23 and its 200-day simple moving average is GBX 1,829.82.

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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