Antofagasta (LON:ANTO) Hits New 52-Week High - Time to 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.

Shares of Antofagasta plc (LON:ANTO - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as GBX 2,225 ($30.17) and last traded at GBX 2,220 ($30.10), with a volume of 669157 shares. The stock had previously closed at GBX 2,152 ($29.18).

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. 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 report on Monday, August 4th. Citigroup reissued a "buy" rating and set a GBX 2,300 price objective on shares of Antofagasta in a report on Friday, August 15th. JPMorgan Chase & Co. reissued an "overweight" rating and set a GBX 2,500 price objective on shares of Antofagasta in a report on Friday, August 15th. 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 report on Thursday, August 14th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a GBX 1,700 price target on shares of Antofagasta in a report on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, 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's fifty day moving average price is GBX 2,036.18 and its 200 day moving average price is GBX 1,842.02. The company has a debt-to-equity ratio of 65.33, a quick ratio of 2.78 and a current ratio of 2.14. The firm has a market capitalization of £21.98 billion, a price-to-earnings ratio of 2,014.45, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00.

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.