Antofagasta's (ANTO) Buy Rating Reaffirmed at Citigroup

Key Points

• Citigroup has reaffirmed Antofagasta's "buy" rating with a price target of GBX 2,300 ($31.12), indicating a potential upside of 8.39% from the current price.
• Other research firms have varied ratings, with Deutsche Bank lifting its price target to GBX 2,000 ($27.06) and Royal Bank of Canada setting a target of GBX 1,700 ($23.00).
• Antofagasta's shares are currently trading at GBX 2,122 ($28.71), reflecting a 1.2% increase during trading hours, with a market cap of £26.14 billion.

Antofagasta (LON:ANTO - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Citigroup in a note issued to investors on Friday, Marketbeat reports. They currently have a GBX 2,300 ($31.12) price target on the mining company's stock. Citigroup's price target suggests a potential upside of 8.39% from the stock's current price.

A number of other research firms also recently issued reports on ANTO. Deutsche Bank Aktiengesellschaft lifted their target price on Antofagasta from GBX 1,950 ($26.38) to GBX 2,000 ($27.06) and gave the company a "hold" rating in a research report on Monday, August 4th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a GBX 1,700 ($23.00) target price on shares of Antofagasta in a research report on Thursday, July 24th. Berenberg Bank reiterated a "buy" rating and set a GBX 2,100 ($28.41) price target on shares of Antofagasta in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a GBX 2,500 ($33.82) price target on shares of Antofagasta in a report on Friday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Antofagasta currently has an average rating of "Moderate Buy" and a consensus target price of GBX 2,137.50 ($28.92).

Antofagasta Stock Up 1.2%

Shares of ANTO traded up GBX 26 ($0.35) during trading hours on Friday, hitting GBX 2,122 ($28.71). 1,036,224 shares of the company were exchanged, compared to its average volume of 2,549,318. The company has a market cap of £26.14 billion, a PE ratio of 34.21, a PEG ratio of -1.08 and a beta of 1.00. The firm's 50 day moving average is GBX 1,893.33 and its 200-day moving average is GBX 1,786.37. Antofagasta has a 52 week low of GBX 1,278 ($17.29) and a 52 week high of GBX 2,171 ($29.37). The company has a debt-to-equity ratio of 65.33, a quick ratio of 2.78 and a current ratio of 2.14.

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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