Antofagasta (LON:ANTO) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of Antofagasta plc (LON:ANTO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 3,352.72 and traded as high as GBX 3,574. Antofagasta shares last traded at GBX 3,561.50, with a volume of 763,695 shares.

Analyst Upgrades and Downgrades

ANTO has been the topic of several recent analyst reports. Canaccord Genuity Group lowered Antofagasta to a “hold” rating and lifted their target price for the stock from GBX 3,165 to GBX 4,100 in a report on Wednesday, February 4th. Royal Bank Of Canada reiterated an “underperform” rating and set a GBX 2,800 target price on shares of Antofagasta in a report on Friday, April 10th. Morgan Stanley lowered Antofagasta to an “underweight” rating and reduced their target price for the stock from GBX 3,070 to GBX 3,050 in a report on Tuesday, February 3rd. JPMorgan Chase & Co. lifted their target price on Antofagasta from GBX 3,100 to GBX 3,200 and gave the stock a “neutral” rating in a report on Friday, April 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 3,700 target price on shares of Antofagasta in a report on Thursday, April 16th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of GBX 3,493.75.

Antofagasta Trading Up 4.1%

The company has a market capitalization of £36.54 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of -1.08 and a beta of 1.38. The business has a fifty day moving average price of GBX 3,686.48 and a 200 day moving average price of GBX 3,352.72. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 74.56.

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