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

Antofagasta plc (LON:ANTO)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 3,705.78 and traded as high as GBX 3,838. Antofagasta shares last traded at GBX 3,778, with a volume of 2,267,102 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Berenberg Bank reiterated a “hold” rating and set a GBX 3,700 price target on shares of Antofagasta in a research note on Thursday, April 16th. Citigroup upped their price objective on shares of Antofagasta from GBX 4,000 to GBX 4,300 and gave the company a “buy” rating in a research note on Friday, April 24th. Royal Bank Of Canada restated an “underperform” rating and set a GBX 2,800 price target on shares of Antofagasta in a research note on Friday, April 10th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 4,500 price target on shares of Antofagasta in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Antofagasta from GBX 3,200 to GBX 3,400 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of GBX 3,618.75.

Antofagasta Price Performance

The company has a debt-to-equity ratio of 74.56, a quick ratio of 2.78 and a current ratio of 2.90. The company has a market capitalization of £37.25 billion, a PE ratio of 28.03, a P/E/G ratio of -1.08 and a beta of 1.41. The company’s 50-day simple moving average is GBX 3,916.71 and its 200-day simple moving average is GBX 3,705.78.

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.