JPMorgan Chase & Co. Issues Positive Forecast for Antofagasta (LON:ANTO) Stock Price

Key Points

• JPMorgan Chase & Co. has raised its price target for Antofagasta (LON:ANTO) from GBX 2,500 to GBX 3,500, suggesting a potential upside of 29.97% from the current price.
• Other analysts have mixed ratings, with Deutsche Bank and Berenberg Bank also increasing their target prices, leading to a consensus rating of "Moderate Buy" with an average target of GBX 2,420.83.
• Antofagasta's stock recently fell by 2.6%, trading at GBX 2,693, despite a strong market capitalization of £26.55 billion and solid liquidity ratios.

Antofagasta (LON:ANTO - Get Free Report) had its price target lifted by equities research analysts at JPMorgan Chase & Co. from GBX 2,500 to GBX 3,500 in a note issued to investors on Friday,Digital Look reports. The brokerage presently has an "overweight" rating on the mining company's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 29.97% from the company's current price.

Several other equities research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Antofagasta from GBX 1,950 to GBX 2,000 and gave the company a "hold" rating in a research note on Monday, August 4th. Citigroup reiterated a "buy" rating and issued a GBX 2,300 target price on shares of Antofagasta in a research note on Friday, August 15th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a GBX 1,700 price target on shares of Antofagasta in a report on Thursday, July 24th. Finally, Berenberg Bank raised their target price on shares of Antofagasta from GBX 2,200 to GBX 2,900 and gave the stock a "buy" rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Antofagasta has a consensus rating of "Moderate Buy" and an average target price of GBX 2,420.83.

Antofagasta Stock Down 2.6%

Antofagasta stock traded down GBX 73 during midday trading on Friday, reaching GBX 2,693. The stock had a trading volume of 1,383,874 shares, compared to its average volume of 2,776,466. The stock has a market capitalization of £26.55 billion, a P/E ratio of 2,432.70, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00. The firm's fifty day simple moving average is GBX 2,280.75 and its 200-day simple moving average is GBX 1,938.73. The company has a debt-to-equity ratio of 65.33, a quick ratio of 2.78 and a current ratio of 2.14. Antofagasta has a 1-year low of GBX 1,278 and a 1-year high of GBX 2,875.

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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