Antofagasta (LON:ANTO) Stock Passes Above 200-Day Moving Average – Here’s Why

Antofagasta plc (LON:ANTO) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,702.77 and traded as high as GBX 3,663. Antofagasta shares last traded at GBX 3,640, with a volume of 1,637,459 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of Antofagasta from GBX 2,125 to GBX 3,165 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Berenberg Bank restated a “buy” rating and issued a GBX 2,900 price target on shares of Antofagasta in a research note on Friday, November 7th. JPMorgan Chase & Co. lifted their price target on Antofagasta from GBX 3,400 to GBX 3,500 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Antofagasta from GBX 2,300 to GBX 2,400 and gave the stock a “hold” rating in a report on Wednesday, November 26th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a GBX 2,700 target price on shares of Antofagasta in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 2,827.50.

Antofagasta Stock Down 0.2%

The firm has a market cap of £35.89 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00. The stock’s 50 day moving average is GBX 3,260.78 and its 200 day moving average is GBX 2,702.77. The company has a quick ratio of 2.78, a current ratio of 2.14 and a debt-to-equity ratio of 65.33.

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.