Antofagasta (LON:ANTO) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Antofagasta plc (LON:ANTO)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 3,671.42 and traded as high as GBX 3,799. Antofagasta shares last traded at GBX 3,715.14, with a volume of 1,417,306 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Royal Bank Of Canada restated an “underperform” rating and issued a GBX 2,800 price objective on shares of Antofagasta in a research report on Friday, April 10th. Berenberg Bank reiterated a “hold” rating and issued a GBX 3,700 target price on shares of Antofagasta in a research note on Thursday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of Antofagasta from GBX 3,200 to GBX 3,400 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and set a GBX 3,100 price target on shares of Antofagasta in a report on Thursday, April 16th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 4,500 price objective on shares of Antofagasta in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Antofagasta currently has a consensus rating of “Reduce” and a consensus target price of GBX 3,618.75.

Antofagasta Stock Up 3.9%

The company has a market cap of £37.39 billion, a PE ratio of 28.14, a P/E/G ratio of -1.08 and a beta of 1.41. The business has a 50-day simple moving average of GBX 3,925.07 and a 200-day simple moving average of GBX 3,676.13. 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 Company Profile

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.