Antofagasta (LON:ANTO) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Antofagasta plc (LON:ANTO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 3,793.57 and traded as high as GBX 3,990. Antofagasta shares last traded at GBX 3,905, with a volume of 1,544,703 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Antofagasta from GBX 4,500 to GBX 4,300 and set an “overweight” rating for the company in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and set a GBX 3,400 price objective on shares of Antofagasta in a report on Friday, August 14th. Royal Bank Of Canada cut shares of Antofagasta to an “underperform” rating and set a GBX 2,700 price objective for the company. in a research report on Monday, July 20th. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 4,500 target price on shares of Antofagasta in a research note on Tuesday, June 9th. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 4,400 target price on shares of Antofagasta in a research report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Antofagasta currently has a consensus rating of “Reduce” and an average price target of GBX 3,843.75.

Antofagasta Price Performance

The stock has a 50-day simple moving average of GBX 3,794.50 and a 200 day simple moving average of GBX 3,793.57. The stock has a market capitalization of £38.50 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of -1.08 and a beta of 1.41. The company has a debt-to-equity ratio of 75.57, a quick ratio of 2.78 and a current ratio of 2.58.

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.