Antofagasta (LON:ANTO) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Antofagasta plc shares recently traded above their 200-day moving average, reaching a high of GBX 2,167 ($29.25) before closing at GBX 2,138 ($28.86).
• Equities analysts have issued mostly positive ratings for the stock, with four analysts rating it as a buy and an average price target of GBX 2,137.50.
• The company has a market cap of £26.48 billion and a debt-to-equity ratio of 65.33, indicating its financial health relative to its equity base.

Antofagasta plc (LON:ANTO - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,812.21 ($24.47) and traded as high as GBX 2,167 ($29.26). Antofagasta shares last traded at GBX 2,138 ($28.87), with a volume of 1,751,320 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on ANTO. Royal Bank Of Canada reiterated a "sector perform" rating and issued a GBX 1,700 price target on shares of Antofagasta in a research report on Thursday, July 24th. Berenberg Bank increased their target price on shares of Antofagasta from GBX 2,100 to GBX 2,200 and gave the company a "buy" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a GBX 2,500 price target on shares of Antofagasta in a report on Friday, August 15th. Citigroup reissued a "buy" rating and set a GBX 2,300 price objective on shares of Antofagasta in a research note on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of GBX 2,137.50.

Antofagasta Stock Performance

The stock has a market capitalization of £21.16 billion, a PE ratio of 2,551.72, a P/E/G ratio of -1.08 and a beta of 1.00. 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 50 day moving average of GBX 1,966.57 and a 200-day moving average of GBX 1,816.93.

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.