Antofagasta (LON:ANTO) Trading Up 6.5% – Time to Buy?

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

Wall Street Analyst Weigh In

A number of analysts have commented on ANTO shares. JPMorgan Chase & Co. upped their price target on shares of Antofagasta from GBX 3,200 to GBX 3,400 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 3,700 price target on shares of Antofagasta in a research report on Thursday, April 16th. Royal Bank Of Canada reaffirmed an “underperform” rating and set a GBX 2,800 price target on shares of Antofagasta in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a GBX 3,100 price target on shares of Antofagasta in a research report on Thursday, April 16th. Finally, Canaccord Genuity Group cut shares of Antofagasta to a “hold” rating and upped their price target for the company from GBX 3,165 to GBX 4,100 in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of GBX 3,518.75.

Antofagasta Stock Down 3.4%

The company has a market cap of £40.85 billion, a P/E ratio of 30.74, a PEG ratio of -1.08 and a beta of 1.35. The stock’s 50-day moving average price is GBX 3,770.79 and its 200-day moving average price is GBX 3,542.58. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 74.56.

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.