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

Key Points

• Citigroup raised its price target on Antofagasta from GBX 4,000 to GBX 4,300 and maintained a "buy" rating, implying about a 16.66% upside from the previous close.
• Analyst coverage is mixed—1 Buy, 4 Hold and 3 Sell—giving a MarketBeat consensus rating of "Reduce" with a consensus price target of GBX 3,493.75, which is below Citigroup's target.
• Antofagasta traded at GBX 3,686 midday (market cap £36.34bn), above its 200‑day moving average (GBX 3,310.67) but below Citigroup's target and its 12‑month high of GBX 4,475.

Antofagasta (LON:ANTO - Get Free Report) had its price objective lifted by research analysts at Citigroup from GBX 4,000 to GBX 4,300 in a research note issued to investors on Friday,London Stock Exchange reports. The firm currently has a "buy" rating on the mining company's stock. Citigroup's price target would suggest a potential upside of 16.66% from the company's previous close.

Other equities research analysts have also issued reports about the company. Berenberg Bank reaffirmed a "hold" rating and issued a GBX 3,700 price objective on shares of Antofagasta in a research note on Thursday, April 16th. Royal Bank Of Canada reiterated an "underperform" rating and issued a GBX 2,800 price target on shares of Antofagasta in a report on Friday, April 10th. Morgan Stanley downgraded Antofagasta to an "underweight" rating and reduced their price target for the stock from GBX 3,070 to GBX 3,050 in a report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating and issued a GBX 3,100 price target on shares of Antofagasta in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. raised their price objective on Antofagasta from GBX 3,100 to GBX 3,200 and gave the stock a "neutral" rating in a report on Friday, April 10th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of GBX 3,493.75.

Antofagasta Price Performance

Antofagasta stock traded down GBX 145 during midday trading on Friday, reaching GBX 3,686. 567,569 shares of the stock traded hands, compared to its average volume of 13,475,728. The stock's fifty day moving average is GBX 3,717.09 and its 200-day moving average is GBX 3,310.67. Antofagasta has a 12 month low of GBX 1,592 and a 12 month high of GBX 4,475. The stock has a market cap of £36.34 billion, a P/E ratio of 27.34, a PEG ratio of -1.08 and a beta of 1.38. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 74.56.

Antofagasta (LON:ANTO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The mining company reported GBX 129.30 earnings per share (EPS) for the quarter. Antofagasta had a return on equity of 10.67% and a net margin of 15.90%. As a group, equities research analysts anticipate that Antofagasta will post 87.0403995 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.