Antofagasta (LON:ANTO) Reaches New 52-Week High - Here's Why

Key Points

• Antofagasta plc's stock reached a new 52-week high on Monday, trading at GBX 2,746.55 ($36.82), indicating strong market performance and a trading volume of 9,468,459 shares.
• Equities analysts have issued various ratings on Antofagasta, with a consensus rating of "Moderate Buy" and a price target averaging GBX 2,137.50, reflecting positive expectations for the stock's future.
• The company's strong financial metrics include a quick ratio of 2.78 and a current ratio of 2.14, showcasing solid liquidity and financial stability.

Antofagasta plc (LON:ANTO - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as GBX 2,746.55 ($36.82) and last traded at GBX 2,715.99 ($36.41), with a volume of 9468459 shares traded. The stock had previously closed at GBX 2,666 ($35.74).

Wall Street Analyst Weigh In

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

Antofagasta Stock 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 company has a 50-day moving average price of GBX 2,144.30 and a 200-day moving average price of GBX 1,885.77. The firm has a market capitalization of £26.85 billion, a price-to-earnings ratio of 2,460.70, a P/E/G 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.

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