Antofagasta (LON:ANTO) Rating Lowered to Underweight at Morgan Stanley

Antofagasta (LON:ANTO) was downgraded by equities researchers at Morgan Stanley to an “underweight” rating in a research report issued on Tuesday, Marketbeat reports. They currently have a GBX 3,050 target price on the mining company’s stock, down from their prior target price of GBX 3,070. Morgan Stanley’s price target suggests a potential downside of 20.61% from the company’s previous close.

ANTO has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft upped their price target on Antofagasta from GBX 2,300 to GBX 2,400 and gave the stock a “hold” rating in a research note on Wednesday, November 26th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 2,700 target price on shares of Antofagasta in a report on Wednesday, January 21st. Canaccord Genuity Group lifted their price target 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. JPMorgan Chase & Co. boosted their price target on shares of Antofagasta from GBX 3,400 to GBX 3,500 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,900 price objective on shares of Antofagasta in a research note on Friday, November 7th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of GBX 2,859.29.

Antofagasta Price Performance

Shares of LON ANTO opened at GBX 3,842 on Tuesday. The firm has a market capitalization of £37.88 billion, a P/E ratio of 34.71, a P/E/G ratio of -1.08 and a beta of 1.00. The firm’s 50-day moving average price is GBX 3,307 and its 200-day moving average price is GBX 2,724.72. The company has a current ratio of 2.14, a quick ratio of 2.78 and a debt-to-equity ratio of 65.33. Antofagasta has a 1-year low of GBX 1,278 and a 1-year high of GBX 4,176.

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.