Antofagasta (LON:ANTO) Sets New 12-Month High – What’s Next?

Antofagasta plc (LON:ANTO)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as GBX 3,573 and last traded at GBX 3,533.13, with a volume of 12838979 shares trading hands. The stock had previously closed at GBX 3,473.

Wall Street Analysts Forecast Growth

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

Antofagasta Trading Up 1.3%

The company has a current ratio of 2.14, a quick ratio of 2.78 and a debt-to-equity ratio of 65.33. The business has a 50 day moving average price of GBX 2,966.79 and a 200-day moving average price of GBX 2,505.19. The firm has a market capitalization of £34.67 billion, a PE ratio of 31.77, a P/E/G 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.