Antofagasta (LON:ANTO) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Antofagasta plc (LON:ANTO) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,765.32 ($22.87) and traded as high as GBX 1,813.05 ($23.49). Antofagasta shares last traded at GBX 1,808.50 ($23.43), with a volume of 5,165,578 shares traded.

Wall Street Analyst Weigh In

Several brokerages have commented on ANTO. Citigroup lowered their price objective on shares of Antofagasta from GBX 2,800 ($36.27) to GBX 2,500 ($32.38) and set a “buy” rating on the stock in a research report on Thursday, December 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 2,125 ($27.53) price objective on shares of Antofagasta in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 2,400 ($31.09) price target on shares of Antofagasta in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 2,185 ($28.30).

Antofagasta Trading Up 2.8 %

The firm’s 50-day moving average price is GBX 1,750.19 and its 200-day moving average price is GBX 1,765.32. The company has a market cap of £22.28 billion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00. The company has a quick ratio of 2.78, a current ratio of 2.14 and a debt-to-equity ratio of 65.33.

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.