JPMorgan Chase & Co. Lowers Antofagasta (LON:ANTO) Price Target to GBX 4,300

Key Points

• JPMorgan lowered Antofagasta’s price target from GBX 4,500 to GBX 4,300 while maintaining an “overweight” rating, implying about 19% potential upside from the current price.
• Analyst sentiment remains mixed: two analysts rate the stock a Buy, three Hold, and three Sell. The consensus rating is “Reduce,” with an average price target of GBX 3,843.75.
• Antofagasta shares fell 3.8%, opening at GBX 3,613.95, compared with a 52-week range of GBX 2,077 to GBX 4,475.

Antofagasta (LON:ANTO - Get Free Report) had its target price lowered by JPMorgan Chase & Co. from GBX 4,500 to GBX 4,300 in a note issued to investors on Friday,London Stock Exchange reports. The brokerage currently has an "overweight" rating on the mining company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 18.98% from the stock's current price.

Several other equities analysts also recently weighed in on the stock. Jefferies Financial Group reissued a "hold" rating and issued a GBX 4,500 price target on shares of Antofagasta in a research note on Tuesday, June 9th. Citigroup increased their price objective on shares of Antofagasta from GBX 4,000 to GBX 4,300 and gave the company a "buy" rating in a report on Friday, April 24th. Royal Bank Of Canada lowered shares of Antofagasta to an "underperform" rating and set a GBX 2,700 target price on the stock. in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft restated a "sell" rating and set a GBX 3,100 target price on shares of Antofagasta in a report on Thursday, April 16th. Finally, Berenberg Bank restated a "hold" rating and issued a GBX 4,400 price target on shares of Antofagasta in a research report on Thursday, July 16th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of GBX 3,843.75.

Antofagasta Trading Down 3.8%

Shares of ANTO opened at GBX 3,613.95 on Friday. Antofagasta has a 52-week low of GBX 2,077 and a 52-week high of GBX 4,475. 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 firm's fifty day moving average is GBX 3,823.71 and its two-hundred day moving average is GBX 3,796.55. The stock has a market cap of £35.63 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of -1.08 and a beta of 1.41.

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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