Antofagasta (OTCMKTS:ANFGF) Shares Up 1.3% – Still a Buy?

Antofagasta plc (OTCMKTS:ANFGF) shot up 1.3% on Thursday . The stock traded as high as $50.0936 and last traded at $49.63. 2,508 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 6,313 shares. The stock had previously closed at $48.98.

Analysts Set New Price Targets

ANFGF has been the topic of several research reports. Berenberg Bank cut shares of Antofagasta from a “buy” rating to a “hold” rating in a research report on Thursday, April 16th. Scotiabank restated a “sector perform” rating on shares of Antofagasta in a report on Monday, June 15th. Royal Bank Of Canada downgraded shares of Antofagasta from a “sector perform” rating to an “underperform” rating in a research note on Friday, March 20th. Citigroup reiterated a “buy” rating on shares of Antofagasta in a report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Antofagasta in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Antofagasta Trading Up 0.8%

The company has a fifty day simple moving average of $53.32 and a two-hundred day simple moving average of $50.03.

About Antofagasta

Antofagasta PLC, trading on the London Stock Exchange and as ADRs on the OTC market under the symbol ANFGF, is a leading Chilean copper producer with integrated exploration and mining operations. Headquartered in Santiago, Chile, the company focuses on the extraction, processing and sale of copper concentrates, cathodes and related by-products such as molybdenum. Its core assets include the Los Pelambres, Centinela, Antucoya and Zaldivar mines, which leverage advanced technologies and large-scale infrastructure to optimise productivity and resource recovery.

Founded in the late nineteenth century as a regional railway operator, Antofagasta has transitioned into a global mining group with a diversified portfolio of operations and investments.