Antofagasta (LON:ANTO) Trading 8.7% Higher – Here’s Why

Antofagasta plc (LON:ANTO)’s stock price traded up 8.7% during mid-day trading on Thursday . The stock traded as high as GBX 4,299 and last traded at GBX 4,299. 1,467,445 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 13,003,916 shares. The stock had previously closed at GBX 3,954.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley cut Antofagasta to an “underweight” rating and dropped their price objective for the stock from GBX 3,070 to GBX 3,050 in a research note on Tuesday, February 3rd. Jefferies Financial Group reissued a “hold” rating and issued a GBX 3,700 price objective on shares of Antofagasta in a research note on Thursday, April 16th. Canaccord Genuity Group cut Antofagasta to a “hold” rating and increased their price objective for the stock from GBX 3,165 to GBX 4,100 in a research note on Wednesday, February 4th. 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, JPMorgan Chase & Co. upped their target price on Antofagasta from GBX 3,100 to GBX 3,200 and gave the stock a “neutral” rating in a report on Friday, April 10th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Antofagasta has an average rating of “Reduce” and a consensus target price of GBX 3,493.75.

Antofagasta Stock Performance

The business has a fifty day simple moving average of GBX 3,655.91 and a two-hundred day simple moving average of GBX 3,408.12. The company has a debt-to-equity ratio of 74.56, a current ratio of 2.90 and a quick ratio of 2.78. The company has a market cap of £41.87 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of -1.08 and a beta of 1.35.

Antofagasta (LON:ANTO) last posted its earnings results on Tuesday, February 17th. The mining company reported GBX 129.30 earnings per share for the quarter. Antofagasta had a return on equity of 10.67% and a net margin of 15.90%. Research analysts anticipate that Antofagasta plc will post 87.0403995 earnings per share for the current year.

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.