Berenberg Bank Forecasts Strong Price Appreciation for Antofagasta (LON:ANTO) Stock

Antofagasta (LON:ANTO) had its target price boosted by research analysts at Berenberg Bank from GBX 2,100 ($28.46) to GBX 2,200 ($29.82) in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the mining company’s stock. Berenberg Bank’s price objective points to a potential upside of 3.68% from the stock’s current price.

Several other research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Antofagasta from GBX 1,950 ($26.43) to GBX 2,000 ($27.11) and gave the stock a “hold” rating in a research note on Monday, August 4th. Citigroup restated a “buy” rating and set a GBX 2,300 ($31.17) price objective on shares of Antofagasta in a research note on Friday. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 2,500 ($33.88) price objective on shares of Antofagasta in a research note on Friday. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a GBX 1,700 ($23.04) price objective on shares of Antofagasta in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Antofagasta presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,137.50 ($28.97).

Antofagasta Stock Up 1.2%

Shares of ANTO stock opened at GBX 2,122 ($28.76) on Thursday. The company has a current ratio of 2.14, a quick ratio of 2.78 and a debt-to-equity ratio of 65.33. Antofagasta has a 1 year low of GBX 1,278 ($17.32) and a 1 year high of GBX 2,171 ($29.43). The firm’s fifty day moving average price is GBX 1,897.86 and its two-hundred day moving average price is GBX 1,789.56. The firm has a market capitalization of £26.14 billion, a P/E ratio of 34.21, a PEG ratio of -1.08 and a beta of 1.00.

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.