JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Antofagasta (LON:ANTO) Stock

Antofagasta (LON:ANTO) had its target price raised by JPMorgan Chase & Co. from GBX 3,100 to GBX 3,200 in a report released on Friday, Marketbeat Ratings reports. The brokerage presently has a “neutral” rating on the mining company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 15.52% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 2,700 price objective on shares of Antofagasta in a report on Wednesday, January 21st. Morgan Stanley downgraded shares of Antofagasta to an “underweight” rating and reduced their price target for the company from GBX 3,070 to GBX 3,050 in a research report on Tuesday, February 3rd. Finally, Canaccord Genuity Group downgraded shares of Antofagasta to a “hold” rating and upped their price target for the company from GBX 3,165 to GBX 4,100 in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 2,964.29.

Antofagasta Price Performance

ANTO stock opened at GBX 3,788 on Friday. Antofagasta has a 12-month low of GBX 1,441.50 and a 12-month high of GBX 4,475. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 74.56. The company has a market cap of £37.34 billion, a price-to-earnings ratio of 28.10, a PEG ratio of -1.08 and a beta of 1.38. The firm has a 50 day moving average of GBX 3,698.29 and a 200-day moving average of GBX 3,243.99.

Antofagasta (LON:ANTO) last posted its earnings results on Tuesday, February 17th. The mining company reported GBX 129.30 EPS for the quarter. Antofagasta had a net margin of 15.90% and a return on equity of 10.67%. As a group, equities analysts expect that Antofagasta will post 87.0403995 EPS for the current fiscal year.

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.