Antofagasta (LON:ANTO) Stock Passes Above 200-Day Moving Average – Should You Sell?

Antofagasta plc (LON:ANTO) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 3,182.05 and traded as high as GBX 3,640. Antofagasta shares last traded at GBX 3,482, with a volume of 1,315,020 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on ANTO. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 2,700 target price on shares of Antofagasta in a research report on Wednesday, January 21st. Morgan Stanley cut Antofagasta to an “underweight” rating and lowered their price target for the company from GBX 3,070 to GBX 3,050 in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Antofagasta in a research report on Thursday, February 5th. Finally, Canaccord Genuity Group downgraded shares of Antofagasta to a “hold” rating and boosted their target price for the stock from GBX 3,165 to GBX 4,100 in a research report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Antofagasta has an average rating of “Hold” and a consensus target price of GBX 2,992.86.

Antofagasta Price Performance

The stock has a 50 day moving average of GBX 3,711.23 and a two-hundred day moving average of GBX 3,183.96. The company has a debt-to-equity ratio of 74.56, a quick ratio of 2.78 and a current ratio of 2.90. The firm has a market capitalization of £34.08 billion, a P/E ratio of 25.65, a P/E/G ratio of -1.08 and a beta of 1.29.

Antofagasta (LON:ANTO) last announced its earnings results on Tuesday, February 17th. The mining company reported GBX 129.30 earnings per share (EPS) for the quarter. Antofagasta had a return on equity of 10.67% and a net margin of 15.90%. Sell-side analysts predict 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.