Citigroup Boosts Antofagasta (LON:ANTO) Price Target to GBX 4,300

Key Points

• Citigroup raised its price target on Antofagasta from GBX 4,000 to GBX 4,300 and kept a "buy" rating, implying roughly a 10.7% upside from the current share price.
• Analyst views are mixed — 1 Buy, 4 Hold and 3 Sell — giving an average MarketBeat rating of "Reduce" and an average target of GBX 3,493.75, well below Citigroup's target.
• Shares traded up about 2.7% to roughly GBX 3,884 on the day; market capitalization is £38.29bn, P/E ~28.8, and the one‑year range is GBX 1,592–4,475.

Antofagasta (LON:ANTO - Get Free Report) had its target price boosted by research analysts at Citigroup from GBX 4,000 to GBX 4,300 in a note issued to investors on Thursday,London Stock Exchange reports. The firm presently has a "buy" rating on the mining company's stock. Citigroup's target price suggests a potential upside of 10.71% from the company's current price.

Other analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reissued a "sell" rating and set a GBX 3,100 target price on shares of Antofagasta in a research report on Thursday, April 16th. JPMorgan Chase & Co. raised their target price on Antofagasta from GBX 3,100 to GBX 3,200 and gave the stock a "neutral" rating in a research note on Friday, April 10th. Canaccord Genuity Group cut Antofagasta to a "hold" rating and lifted their price target for the stock from GBX 3,165 to GBX 4,100 in a research report on Wednesday, February 4th. Jefferies Financial Group restated a "hold" rating and issued a GBX 3,700 price objective on shares of Antofagasta in a research note on Thursday, April 16th. Finally, Morgan Stanley lowered Antofagasta to an "underweight" rating and dropped their target price for the company from GBX 3,070 to GBX 3,050 in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Antofagasta has an average rating of "Reduce" and an average price target of GBX 3,493.75.

Antofagasta Trading Up 2.7%

LON:ANTO traded up GBX 101.50 during midday trading on Thursday, hitting GBX 3,884. The stock had a trading volume of 19,153,725 shares, compared to its average volume of 13,875,608. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 74.56. The stock has a 50-day moving average of GBX 3,714.94 and a 200 day moving average of GBX 3,307.03. The company has a market capitalization of £38.29 billion, a price-to-earnings ratio of 28.81, a PEG ratio of -1.08 and a beta of 1.38. Antofagasta has a one year low of GBX 1,592 and a one year high of GBX 4,475.

Antofagasta (LON:ANTO - Get Free Report) last posted its quarterly earnings results 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, sell-side analysts forecast 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.

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