Antofagasta (LON:ANTO) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Antofagasta plc (LON:ANTO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,280.47 and traded as high as GBX 2,977. Antofagasta shares last traded at GBX 2,920, with a volume of 122,811,984 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ANTO. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 1,900 price objective on shares of Antofagasta in a research note on Tuesday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of Antofagasta from GBX 3,400 to GBX 3,500 and gave the stock an “overweight” rating in a research report on Wednesday, December 3rd. Citigroup reiterated a “buy” rating and set a GBX 2,300 price objective on shares of Antofagasta in a research report on Friday, August 15th. Berenberg Bank restated a “buy” rating and issued a GBX 2,900 target price on shares of Antofagasta in a report on Friday, November 7th. Finally, Canaccord Genuity Group boosted 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Antofagasta presently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,694.17.

Antofagasta Price Performance

The company has a debt-to-equity ratio of 65.33, a current ratio of 2.14 and a quick ratio of 2.78. The firm has a market cap of £28.79 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00. The stock’s fifty day moving average price is GBX 2,749.11 and its 200-day moving average price is GBX 2,280.47.

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.