Antofagasta (LON:ANTO) Stock Price Passes Above 200 Day Moving Average - Here's Why

Antofagasta plc (LON:ANTO - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,745.38 ($23.43) and traded as high as GBX 1,859.50 ($24.96). Antofagasta shares last traded at GBX 1,821.50 ($24.45), with a volume of 551,376 shares traded.

Analyst Upgrades and Downgrades

ANTO has been the subject of several analyst reports. Citigroup lifted their price target on shares of Antofagasta from GBX 2,000 ($26.85) to GBX 2,200 ($29.53) and gave the company a "buy" rating in a report on Thursday, July 10th. Berenberg Bank reissued a "buy" rating and set a GBX 2,100 ($28.19) price objective on shares of Antofagasta in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Antofagasta from GBX 2,400 ($32.21) to GBX 2,500 ($33.56) and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of GBX 2,185 ($29.33).

Antofagasta Stock Up 2.6%

The firm's 50 day moving average price is GBX 1,824.25 and its 200-day moving average price is GBX 1,748.39. 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 company has a market cap of £23.02 billion, a P/E ratio of 30.12, a price-to-earnings-growth 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.