Antofagasta (LON:ANTO) Trading 10.6% Higher – Here’s What Happened

Shares of Antofagasta plc (LON:ANTO) were up 10.6% during trading on Thursday . The company traded as high as GBX 4,000 and last traded at GBX 4,000. Approximately 1,451,307 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 17,376,244 shares. The stock had previously closed at GBX 3,617.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Berenberg Bank restated a “buy” rating and set a GBX 2,900 price target on shares of Antofagasta in a research note on Friday, November 7th. Morgan Stanley downgraded Antofagasta to an “underweight” rating and cut their target price for the company from GBX 3,070 to GBX 3,050 in a research report on Tuesday, February 3rd. Canaccord Genuity Group lowered Antofagasta to a “hold” rating and raised their target price for the stock from GBX 3,165 to GBX 4,100 in a research note on Wednesday, February 4th. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 2,700 price target on shares of Antofagasta in a research note on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Antofagasta from GBX 2,300 to GBX 2,400 and gave the company a “hold” rating in a report on Wednesday, November 26th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 2,992.86.

Antofagasta Stock Up 3.0%

The company has a quick ratio of 2.78, a current ratio of 2.14 and a debt-to-equity ratio of 65.33. The company has a market capitalization of £39.36 billion, a price-to-earnings ratio of 36.06, a P/E/G ratio of -1.08 and a beta of 1.00. The business’s 50-day moving average is GBX 3,515.68 and its 200-day moving average is GBX 2,868.27.

Antofagasta (LON:ANTO) last released its quarterly earnings data on Tuesday, February 17th. The mining company reported GBX 129.30 earnings per share for the quarter. Antofagasta had a return on equity of 8.52% and a net margin of 11.96%. As a group, equities 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.