Antofagasta (LON:ANTO) Trading 9.3% Higher - Here's What Happened

Key Points

• Antofagasta's stock rose 9.3% to GBX 2,642 ($35.53) on Thursday, with a trading volume decrease of 25% compared to its average daily activity.
• Recent analyst reports gave mixed ratings, with forecasts including target prices from GBX 1,700 to GBX 2,500, indicative of a "Moderate Buy" consensus.
• The company has a market capitalization of £25.85 billion and key financial ratios indicating a robust current and quick ratio, despite a high P/E ratio of 2,368.56.

Antofagasta plc (LON:ANTO - Get Free Report)'s stock price rose 9.3% on Thursday . The stock traded as high as GBX 2,651 ($35.66) and last traded at GBX 2,642 ($35.53). Approximately 2,160,946 shares were traded during trading, a decline of 25% from the average daily volume of 2,871,815 shares. The stock had previously closed at GBX 2,418 ($32.52).

Wall Street Analysts Forecast Growth

ANTO has been the topic of several recent analyst reports. Citigroup reissued a "buy" rating and set a GBX 2,300 target price on shares of Antofagasta in a research report on Friday, August 15th. Royal Bank Of Canada reissued a "sector perform" rating and set a GBX 1,700 target price on shares of Antofagasta in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on Antofagasta from GBX 1,950 to GBX 2,000 and gave the company a "hold" rating in a research report on Monday, August 4th. Berenberg Bank upped their target price on Antofagasta from GBX 2,100 to GBX 2,200 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and issued a GBX 2,500 price target on shares of Antofagasta in a report on Friday, August 15th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of GBX 2,137.50.

Antofagasta Stock Down 0.8%

The company has a debt-to-equity ratio of 65.33, a current ratio of 2.14 and a quick ratio of 2.78. The company has a market capitalization of £25.85 billion, a P/E ratio of 2,368.56, a PEG ratio of -1.08 and a beta of 1.00. The company has a 50 day moving average of GBX 2,112.82 and a 200-day moving average of GBX 1,872.37.

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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