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

Antofagasta plc (LON:ANTO) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 3,297 and last traded at GBX 3,255, with a volume of 2074456 shares traded. The stock had previously closed at GBX 3,224.

Analysts Set New Price Targets

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

Antofagasta Price Performance

The firm has a market capitalization of £32.46 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00. The company has a quick ratio of 2.78, a current ratio of 2.14 and a debt-to-equity ratio of 65.33. The company’s fifty day moving average is GBX 2,864.67 and its two-hundred day moving average is GBX 2,412.85.

About Antofagasta

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.