Antofagasta (LON:ANTO) Hits New 1-Year High - What's Next?

Key Points

• Antofagasta plc reached a new 52-week high of GBX 2,336 ($31.47) during trading, closing slightly lower at GBX 2,325 ($31.32) with significant trading volume of 125 million shares.
• Wall Street analysts provide a mixed outlook with four "Buy" ratings, two "Hold" ratings, and a consensus target price of GBX 2,137.50, while recent analyst price targets range from GBX 1,700 to GBX 2,500.
• The company is a major player in copper mining and aims to generate value sustainably through its operations, reflecting its commitment to stakeholders throughout the commodity cycle.

Antofagasta plc (LON:ANTO - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 2,336 ($31.57) and last traded at GBX 2,325 ($31.42), with a volume of 125004891 shares traded. The stock had previously closed at GBX 2,322.09 ($31.38).

Analyst Upgrades and Downgrades

Several research analysts have commented on ANTO shares. Citigroup restated a "buy" rating and issued a GBX 2,300 target price on shares of Antofagasta in a research report on Friday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Antofagasta from GBX 1,950 to GBX 2,000 and gave the stock a "hold" rating in a report on Monday, August 4th. 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. restated an "overweight" rating and issued a GBX 2,500 price target on shares of Antofagasta in a research report on Friday, August 15th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a GBX 1,700 target price on shares of Antofagasta in a research note on Thursday, July 24th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 2,137.50.

Antofagasta Stock Performance

The firm's 50-day moving average price is GBX 2,085.12 and its two-hundred day moving average price is GBX 1,863.17. 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 stock has a market cap of £23.27 billion, a price-to-earnings ratio of 2,131.89, a PEG 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.