Antofagasta (LON:ANTO) Reaches New 52-Week High - Still a Buy?

Key Points

• Antofagasta plc reached a new 52-week high, trading at GBX 2,205.31 ($29.54), as the stock showed a significant increase with a volume of 870,136 shares.
• Analysts have mixed opinions, with JPMorgan Chase issuing an "overweight" rating and a price target of GBX 2,500, while other firms like Deutsche Bank and Royal Bank of Canada provided more conservative price targets.
• Antofagasta has a market capitalization of £21.74 billion and strong liquidity ratios, indicating a robust financial position in the copper mining industry.

Antofagasta plc (LON:ANTO - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 2,205.31 ($29.75) and last traded at GBX 2,200 ($29.68), with a volume of 870136 shares traded. The stock had previously closed at GBX 2,131 ($28.75).

Analyst Ratings Changes

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

Antofagasta Stock Up 0.9%

The business has a 50-day simple moving average of GBX 2,005.38 and a two-hundred day simple moving average of GBX 1,827.54. The company has a market cap of £21.22 billion, a price-to-earnings ratio of 1,943.99, a PEG ratio of -1.08 and a beta of 1.00. The company has a quick ratio of 2.78, a current ratio of 2.14 and a debt-to-equity ratio of 65.33.

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.