Antofagasta (LON:ANTO) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Antofagasta plc (LON:ANTO) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,765.32 ($22.83) and traded as high as GBX 1,813.05 ($23.45). Antofagasta shares last traded at GBX 1,808.50 ($23.39), with a volume of 5,165,578 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ANTO. Citigroup decreased their price target on shares of Antofagasta from GBX 2,800 ($36.22) to GBX 2,500 ($32.34) and set a “buy” rating for the company in a research report on Thursday, December 12th. Canaccord Genuity Group restated a “buy” rating and issued a GBX 2,125 ($27.49) target price on shares of Antofagasta in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 2,400 ($31.04) target price on shares of Antofagasta in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of GBX 2,185 ($28.26).

Antofagasta Trading Up 2.4 %

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 company has a market cap of £22.81 billion, a PE ratio of 29.85, a P/E/G ratio of -1.08 and a beta of 1.00. The business’s 50-day simple moving average is GBX 1,754.08 and its 200-day simple moving average is GBX 1,765.09.

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.