Antofagasta (OTCMKTS:ANFGF) Shares Up 5.6% – Time to Buy?

Shares of Antofagasta plc (OTCMKTS:ANFGF) rose 5.6% on Friday . The stock traded as high as $46.60 and last traded at $46.60. Approximately 18,687 shares changed hands during mid-day trading, an increase of 139% from the average daily volume of 7,816 shares. The stock had previously closed at $44.14.

Wall Street Analyst Weigh In

ANFGF has been the topic of several recent analyst reports. Sanford C. Bernstein cut Antofagasta to a “market perform” rating in a research report on Thursday, September 25th. Scotiabank downgraded shares of Antofagasta from a “sector perform” rating to an “underperform” rating in a report on Wednesday, October 1st. Finally, Citigroup reissued a “buy” rating on shares of Antofagasta in a report on Friday, September 26th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Antofagasta Price Performance

The business has a fifty day simple moving average of $38.08 and a two-hundred day simple moving average of $32.37.

About Antofagasta

Antofagasta PLC, trading on the London Stock Exchange and as ADRs on the OTC market under the symbol ANFGF, is a leading Chilean copper producer with integrated exploration and mining operations. Headquartered in Santiago, Chile, the company focuses on the extraction, processing and sale of copper concentrates, cathodes and related by-products such as molybdenum. Its core assets include the Los Pelambres, Centinela, Antucoya and Zaldivar mines, which leverage advanced technologies and large-scale infrastructure to optimise productivity and resource recovery.

Founded in the late nineteenth century as a regional railway operator, Antofagasta has transitioned into a global mining group with a diversified portfolio of operations and investments.