Royal Bank of Canada Upgrades Antofagasta (LON:ANTO) to “Sector Performer”
Antofagasta (LON:ANTO) was upgraded by stock analysts at Royal Bank of Canada to a “sector performer” rating in a report released on Wednesday, Stock Target Advisor reports. The firm currently has a GBX 760 ($10.00) price target on the mining company’s stock, up from their prior price target of GBX 740 ($9.73). Royal Bank of Canada’s price target suggests a potential upside of 15.15% from the stock’s previous close.
Other research analysts have also issued reports about the company. Morgan Stanley lowered Antofagasta to an “underweight” rating in a research report on Monday, March 16th. Liberum Capital raised Antofagasta to a “buy” rating and lifted their price objective for the stock from GBX 840 ($11.05) to GBX 1,100 ($14.47) in a research report on Tuesday, January 14th. Peel Hunt reissued a “hold” rating on shares of Antofagasta in a research report on Tuesday. UBS Group reissued a “neutral” rating on shares of Antofagasta in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Antofagasta from GBX 780 ($10.26) to GBX 790 ($10.39) and gave the stock an “underweight” rating in a research report on Wednesday, January 22nd. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Antofagasta presently has an average rating of “Hold” and a consensus price target of GBX 881.07 ($11.59).
LON:ANTO traded down GBX 7.80 ($0.10) during trading hours on Wednesday, hitting GBX 660 ($8.68). 4,677,220 shares of the company were exchanged, compared to its average volume of 3,470,000. The stock has a market capitalization of $6.51 billion and a price-to-earnings ratio of 9.98. The company has a current ratio of 2.31, a quick ratio of 1.90 and a debt-to-equity ratio of 29.27. Antofagasta has a one year low of GBX 656.60 ($8.64) and a one year high of GBX 1,026 ($13.50). The company has a fifty day simple moving average of GBX 784.22 and a 200 day simple moving average of GBX 869.60.
Antofagasta plc, through its subsidiaries, primarily engages in the exploration, evaluation, development, and mining of copper properties in Chile. It operates through Los Pelambres, Centinela, Antucoya, Zaldívar, Exploration and Evaluation, and Transport segments. The company produces copper concentrates containing by-products, such as molybdenum, gold, and silver; and copper cathodes.
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