Antofagasta (LON:ANTO) Stock Rating Lowered by Royal Bank Of Canada

Key Points

• Royal Bank of Canada downgraded Antofagasta to an “underperform” rating and set a GBX 2,700 target price, implying about 22.4% downside from the previous close.
• Analyst views on the stock are mixed overall: recent updates include upgrades from JPMorgan and Citigroup, while Deutsche Bank and others remain bearish or neutral. MarketBeat says the consensus rating is now “Reduce” with a GBX 3,831.25 target.
• Antofagasta shares opened at GBX 3,479, below both the 50-day and 200-day moving averages, and the company has a market value of about £34.3 billion.

Antofagasta (LON:ANTO - Get Free Report) was downgraded by equities research analysts at Royal Bank Of Canada to an "underperform" rating in a report issued on Monday,Digital Look reports. They currently have a GBX 2,700 target price on the mining company's stock. Royal Bank Of Canada's target price would suggest a potential downside of 22.39% from the company's previous close.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised Antofagasta to an "overweight" rating and boosted their price target for the stock from GBX 3,400 to GBX 4,500 in a research note on Monday, July 6th. Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 4,500 price objective on shares of Antofagasta in a report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and issued a GBX 3,100 target price on shares of Antofagasta in a report on Thursday, April 16th. Citigroup lifted their price target on Antofagasta from GBX 4,000 to GBX 4,300 and gave the stock a "buy" rating in a research note on Friday, April 24th. Finally, Berenberg Bank reiterated a "hold" rating and issued a GBX 4,400 price objective on shares of Antofagasta in a research report on Thursday. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Antofagasta has a consensus rating of "Reduce" and a consensus target price of GBX 3,831.25.

Antofagasta Price Performance

Antofagasta stock opened at GBX 3,479 on Monday. The company has a debt-to-equity ratio of 74.56, a current ratio of 2.90 and a quick ratio of 2.78. The business has a 50 day simple moving average of GBX 3,926.89 and a 200-day simple moving average of GBX 3,756.09. Antofagasta has a 12 month low of GBX 1,850.50 and a 12 month high of GBX 4,475. The stock has a market capitalization of £34.30 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of -1.08 and a beta of 1.41.

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.

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