Antofagasta (LON:ANTO) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Key Points

• Berenberg Bank has raised its price target for Antofagasta stock from GBX 2,200 to GBX 2,900, maintaining a "buy" rating, suggesting a potential upside of 4.54% from the current price.
• Other analysts, including Citigroup and JPMorgan Chase, have also issued "buy" ratings with target prices of GBX 2,300 and GBX 2,500, respectively, indicating positive sentiment across multiple brokerages.
• Antofagasta's stock traded at GBX 2,774 on Wednesday, with a market cap of £27.35 billion and significant trading volume, reflecting robust investor interest.

Antofagasta (LON:ANTO - Get Free Report) had its target price boosted by Berenberg Bank from GBX 2,200 to GBX 2,900 in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage presently has a "buy" rating on the mining company's stock. Berenberg Bank's price target points to a potential upside of 4.54% from the company's current price.

Other research analysts have also issued reports about the company. Citigroup reissued a "buy" rating and issued a GBX 2,300 price objective on shares of Antofagasta in a report on Friday, August 15th. JPMorgan Chase & Co. restated an "overweight" rating and issued a GBX 2,500 target price on shares of Antofagasta in a research note on Friday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price 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. Finally, 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. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of GBX 2,254.17.

Antofagasta Stock Performance

Shares of ANTO stock traded up GBX 94 during mid-day trading on Wednesday, reaching GBX 2,774. The stock had a trading volume of 4,414,194 shares, compared to its average volume of 2,810,408. The business's fifty day moving average is GBX 2,247 and its 200-day moving average is GBX 1,926.56. The company has a current ratio of 2.14, a quick ratio of 2.78 and a debt-to-equity ratio of 65.33. The firm has a market cap of £27.35 billion, a price-to-earnings ratio of 2,505.87, a PEG ratio of -1.08 and a beta of 1.00. Antofagasta has a 1-year low of GBX 1,278 and a 1-year high of GBX 2,823.

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.

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