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

Shares of Antofagasta plc (LON:ANTO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 3,140.80 and traded as high as GBX 3,374. Antofagasta shares last traded at GBX 3,362, with a volume of 31,700,350 shares traded.

Analysts Set New Price Targets

A number of analysts recently commented on ANTO shares. Morgan Stanley lowered Antofagasta to an “underweight” rating and decreased their target price for the company from GBX 3,070 to GBX 3,050 in a research report on Tuesday, February 3rd. 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. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Antofagasta in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Antofagasta from GBX 2,300 to GBX 2,400 and gave the stock a “hold” rating in a report on Wednesday, November 26th. Finally, Canaccord Genuity Group cut shares of Antofagasta to a “hold” rating and lifted their price objective for the company from GBX 3,165 to GBX 4,100 in a report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of GBX 2,992.86.

Antofagasta Stock Performance

The company has a debt-to-equity ratio of 74.56, a current ratio of 2.90 and a quick ratio of 2.78. The company’s fifty day moving average price is GBX 3,733.78 and its 200 day moving average price is GBX 3,144.16. The company has a market cap of £32.05 billion, a PE ratio of 24.12, a P/E/G ratio of -1.08 and a beta of 1.29.

Antofagasta (LON:ANTO) last issued its quarterly earnings data on Tuesday, February 17th. The mining company reported GBX 129.30 earnings per share (EPS) for the quarter. Antofagasta had a net margin of 15.90% and a return on equity of 10.67%. On average, equities research analysts predict that Antofagasta plc will post 87.0403995 earnings per share for the current year.

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.