Antofagasta (LON:ANTO) Sets New 52-Week High – Should You Buy?

Antofagasta plc (LON:ANTO) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 3,107 and last traded at GBX 3,094, with a volume of 9196046 shares changing hands. The stock had previously closed at GBX 3,050.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price 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. Canaccord Genuity Group raised their price objective on Antofagasta from GBX 2,125 to GBX 3,165 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 1,900 target price on shares of Antofagasta in a research report on Tuesday, November 11th. Berenberg Bank reissued a “buy” rating and set a GBX 2,900 price target on shares of Antofagasta in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. lifted their price objective 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. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,694.17.

Antofagasta Stock Up 2.2%

The stock has a market cap of £30.72 billion, a PE ratio of 28.15, a P/E/G ratio of -1.08 and a beta of 1.00. The business has a 50 day moving average price of GBX 2,773.47 and a 200 day moving average price of GBX 2,318.28. The company has a quick ratio of 2.78, a current ratio of 2.14 and a debt-to-equity ratio of 65.33.

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.