Antofagasta (LON:ANTO) Lowered to “Underweight” Rating by Morgan Stanley

Morgan Stanley lowered shares of Antofagasta (LON:ANTO) to an underweight rating in a report released on Tuesday, MarketBeat.com reports. The firm currently has GBX 3,050 price target on the mining company’s stock, down from their previous price target of GBX 3,070.

Several other research firms have also commented on ANTO. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a GBX 2,700 price target on shares of Antofagasta in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Antofagasta from GBX 2,300 to GBX 2,400 and gave the stock a “hold” rating in a research report on Wednesday, November 26th. Canaccord Genuity Group lifted their target price on shares of Antofagasta from GBX 2,125 to GBX 3,165 and gave the company a “buy” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. upped their price target on shares of Antofagasta from GBX 3,400 to GBX 3,500 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 2,900 price objective on shares of Antofagasta in a research report on Friday, November 7th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of GBX 2,859.29.

Antofagasta Stock Up 6.3%

ANTO opened at GBX 3,868 on Tuesday. Antofagasta has a one year low of GBX 1,278 and a one year high of GBX 4,176. The company has a debt-to-equity ratio of 65.33, a quick ratio of 2.78 and a current ratio of 2.14. The stock has a market capitalization of £38.13 billion, a P/E ratio of 34.94, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00. The business’s 50-day simple moving average is GBX 3,284.72 and its 200-day simple moving average is GBX 2,716.85.

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.