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

Antofagasta (LON:ANTO) had its target price hoisted by investment analysts at Berenberg Bank from GBX 2,200 to GBX 2,900 in a research note issued on Wednesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the mining company’s stock. Berenberg Bank’s price target indicates a potential upside of 4.84% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Citigroup reiterated a “buy” rating and issued a GBX 2,300 price target on shares of Antofagasta in a research note on Friday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Antofagasta from GBX 1,950 to GBX 2,000 and gave the stock a “hold” rating in a research note on Monday, August 4th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 2,500 price target on shares of Antofagasta in a research note on Friday, August 15th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 1,700 price target on shares of Antofagasta in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Antofagasta currently has an average rating of “Moderate Buy” and an average price target of GBX 2,254.17.

Antofagasta Stock Down 1.0%

Shares of LON ANTO opened at GBX 2,766 on Wednesday. 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 12 month low of GBX 1,278 and a 12 month high of GBX 2,875. The firm has a market capitalization of £27.27 billion, a PE ratio of 2,498.64, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00. The firm has a fifty day simple moving average of GBX 2,280.75 and a two-hundred day simple moving average of GBX 1,938.73.

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.