Antofagasta (LON:ANTO) Cut to Underweight at Morgan Stanley

Antofagasta (LON:ANTO) was downgraded by equities research analysts at Morgan Stanley to an “underweight” rating in a research note issued to investors on Tuesday,Digital Look reports. They currently have a GBX 3,050 price target on the mining company’s stock, down from their prior price target of GBX 3,070. Morgan Stanley’s target price indicates a potential downside of 18.54% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada restated a “sector perform” rating and set a GBX 2,700 target price on shares of Antofagasta in a research report on Wednesday, January 21st. Canaccord Genuity Group increased their price objective on shares of Antofagasta from GBX 2,125 to GBX 3,165 and gave the company a “buy” rating in a report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Antofagasta from GBX 2,300 to GBX 2,400 and gave the stock a “hold” rating in a report on Wednesday, November 26th. JPMorgan Chase & Co. boosted their target price on Antofagasta from GBX 3,400 to GBX 3,500 and gave the stock an “overweight” rating in a research report on Wednesday, December 3rd. Finally, Berenberg Bank restated a “buy” rating and set a GBX 2,900 price target on shares of Antofagasta in a report on Friday, November 7th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Antofagasta has a consensus rating of “Hold” and an average price target of GBX 2,859.29.

Antofagasta Stock Up 2.9%

ANTO opened at GBX 3,744 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 2.78 and a debt-to-equity ratio of 65.33. The company has a market capitalization of £36.91 billion, a PE ratio of 33.82, a PEG ratio of -1.08 and a beta of 1.00. Antofagasta has a 1-year low of GBX 1,278 and a 1-year high of GBX 4,176. The firm’s 50 day simple moving average is GBX 3,260.78 and its two-hundred day simple moving average is GBX 2,702.77.

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.