Antofagasta (LON:ANTO) Hits New 1-Year High – Still a Buy?

Shares of Antofagasta plc (LON:ANTO) hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 3,107 and last traded at GBX 3,094, with a volume of 9196046 shares. The stock had previously closed at GBX 3,050.

Analyst Ratings Changes

ANTO has been the topic of several recent analyst reports. Berenberg Bank reiterated a “buy” rating and issued a GBX 2,900 price target on shares of Antofagasta in a report on Friday, November 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a GBX 1,900 target price on shares of Antofagasta in a research note on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Antofagasta from GBX 2,300 to GBX 2,400 and gave the stock a “hold” rating in a research note on Wednesday, November 26th. JPMorgan Chase & Co. lifted their price target on Antofagasta from GBX 3,400 to GBX 3,500 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. Finally, Canaccord Genuity Group raised their price objective on Antofagasta from GBX 2,125 to GBX 3,165 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Antofagasta presently has an average rating of “Moderate Buy” and an average price target of GBX 2,694.17.

Antofagasta Trading Down 0.4%

The stock has a 50-day simple moving average of GBX 2,786.41 and a two-hundred day simple moving average of GBX 2,329.18. The company has a debt-to-equity ratio of 65.33, a quick ratio of 2.78 and a current ratio of 2.14. The firm has a market cap of £30.62 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00.

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.