Antofagasta (LON:ANTO) Shares Up 6.5% – Here’s What Happened

Antofagasta plc (LON:ANTO) shares traded up 6.5% during mid-day trading on Tuesday . The company traded as high as GBX 4,420 and last traded at GBX 4,408. 2,527,216 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 14,827,235 shares. The stock had previously closed at GBX 4,140.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank Of Canada reissued an “underperform” rating and set a GBX 2,800 price objective on shares of Antofagasta in a research report on Friday, April 10th. Morgan Stanley cut Antofagasta to an “underweight” rating and decreased their price objective for the company from GBX 3,070 to GBX 3,050 in a research note on Tuesday, February 3rd. Canaccord Genuity Group cut Antofagasta to a “hold” rating and lifted their price objective for the company from GBX 3,165 to GBX 4,100 in a research note on Wednesday, February 4th. Berenberg Bank restated a “hold” rating and set a GBX 3,700 target price on shares of Antofagasta in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Antofagasta from GBX 3,200 to GBX 3,400 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of GBX 3,518.75.

Antofagasta Stock Performance

The firm has a market cap of £43.46 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of -1.08 and a beta of 1.35. 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 stock has a fifty day moving average price of GBX 3,726.99 and a 200-day moving average price of GBX 3,520.88.

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.