Antofagasta (LON:ANTO) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of Antofagasta plc (LON:ANTO) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,702.77 and traded as high as GBX 3,663. Antofagasta shares last traded at GBX 3,640, with a volume of 1,637,459 shares traded.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ANTO. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 2,700 price target on shares of Antofagasta in a report on Wednesday, January 21st. Berenberg Bank restated a “buy” rating and issued a GBX 2,900 target price on shares of Antofagasta in a research note on Friday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Antofagasta from GBX 2,300 to GBX 2,400 and gave the stock a “hold” rating in a research note on Wednesday, November 26th. JPMorgan Chase & Co. upped their price objective on Antofagasta from GBX 3,400 to GBX 3,500 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. Finally, Canaccord Genuity Group lifted their target price on Antofagasta from GBX 2,125 to GBX 3,165 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Four investment 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 a consensus target price of GBX 2,827.50.

Antofagasta Stock Performance

The company has a market capitalization of £35.89 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of -1.08 and a beta of 1.00. The stock has a 50 day simple moving average of GBX 3,260.78 and a 200 day simple moving average of GBX 2,702.77. The company has a quick ratio of 2.78, a current ratio of 2.14 and a debt-to-equity ratio of 65.33.

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.