Antofagasta (LON:ANTO) Hits New 52-Week High – Time to Buy?

Antofagasta plc (LON:ANTO)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 3,297 and last traded at GBX 3,255, with a volume of 2074456 shares trading hands. The stock had previously closed at GBX 3,224.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ANTO shares. Berenberg Bank reaffirmed a “buy” rating and set a GBX 2,900 price target on shares of Antofagasta in a research report on Friday, November 7th. Canaccord Genuity Group boosted their price objective on shares of Antofagasta from GBX 2,125 to GBX 3,165 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Antofagasta from GBX 2,300 to GBX 2,400 and gave the company a “hold” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. boosted 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. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a GBX 1,900 price objective on shares of Antofagasta in a research note 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 data from MarketBeat, Antofagasta has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,694.17.

Antofagasta Stock Up 0.2%

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’s 50 day moving average is GBX 2,840.79 and its two-hundred day moving average is GBX 2,392.28. The firm has a market capitalization of £31.86 billion, a P/E ratio of 29.20, a PEG ratio of -1.08 and a beta of 1.00.

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.