Antofagasta plc’s Stock Is Buy After Reaching 52-Week High

 Antofagasta plc's Stock Is Buy After Reaching 52 Week High

The stock of Antofagasta plc (LON:ANTO) hit a new 52-week high and has GBX 1156.51 target or 61.00% above today’s GBX 718.33 share price. The 7 months bullish chart indicates low risk for the GBX 7.09B company. The 1-year high was reported on Nov, 10 by Barchart.com. If the GBX 1156.51 price target is reached, the company will be worth GBX 4.32 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 11.98% or GBX 76.83 on November 10, hitting GBX 718.33. About 12.74M shares traded hands or 270.35% up from the average. Antofagasta plc (LON:ANTO) has risen 36.63% since April 13, 2016 and is uptrending. It has outperformed by 30.99% the S&P500.

Antofagasta plc (LON:ANTO) Ratings Coverage

Out of 29 analysts covering Antofagasta PLC (LON:ANTO), 4 rate it a “Buy”, 13 “Sell”, while 12 “Hold”. This means 14% are positive. GBX 1025 is the highest target while GBX 250 is the lowest. The GBX 487.27 average target is -32.17% below today’s (GBX 718.33) stock price. Antofagasta PLC has been the topic of 252 analyst reports since July 23, 2015 according to StockzIntelligence Inc. BNP Paribas maintained the stock with “Neutral” rating in Monday, April 11 report. The stock of Antofagasta plc (LON:ANTO) earned “Hold” rating by Peel Hunt on Monday, August 15. The stock of Antofagasta plc (LON:ANTO) earned “Hold” rating by Peel Hunt on Tuesday, March 22. The rating was maintained by Liberum Capital on Tuesday, August 25 with “Sell”. The rating was maintained by Numis Securities on Wednesday, August 5 with “Reduce”. Deutsche Bank maintained the stock with “Hold” rating in Wednesday, October 5 report. Credit Suisse maintained the stock with “Neutral” rating in Tuesday, August 18 report. Credit Suisse maintained the shares of ANTO in a report on Thursday, May 12 with “Underperform” rating. The rating was maintained by Jefferies on Friday, August 19 with “Hold”. Jefferies maintained Antofagasta plc (LON:ANTO) rating on Monday, April 18. Jefferies has “Hold” rating and GBX 450 price target.

Another recent and important Antofagasta plc (LON:ANTO) news was published by Bloomberg.com which published an article titled: “Years-Long Copper Glut Can Still Flush Out Deals for Antofagasta” on September 15, 2016.

Antofagasta plc is a copper mining company. The company has a market cap of 7.09 billion GBP. The Firm is engaged in by-product production and has interests in transport. It has a 3136.81 P/E ratio. The Company’s divisions include Los Pelambres, Centinela, Michilla, Antucoya, Zaldivar, Exploration and evaluation, Railway and other transport services, Mining, Water concession, and Corporate and other items.

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