Antofagasta (LON:ANTO) had its target price decreased by equities researchers at HSBC from GBX 750 ($9.80) to GBX 740 ($9.67) in a note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the mining company’s stock. HSBC’s price objective would indicate a potential downside of 13.31% from the company’s current price.
Several other equities analysts have also recently commented on the stock. UBS Group raised shares of Antofagasta to a “neutral” rating in a research note on Tuesday. Citigroup lowered their target price on shares of Antofagasta from GBX 1,050 ($13.72) to GBX 980 ($12.81) and set a “buy” rating on the stock in a research note on Friday, October 26th. Goldman Sachs Group cut shares of Antofagasta to a “sell” rating and lowered their target price for the company from GBX 760 ($9.93) to GBX 720 ($9.41) in a research note on Thursday, October 25th. Barclays reissued an “equal weight” rating and set a GBX 820 ($10.71) target price (down previously from GBX 875 ($11.43)) on shares of Antofagasta in a research note on Thursday, October 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Antofagasta from GBX 780 ($10.19) to GBX 700 ($9.15) and set an “underweight” rating on the stock in a research note on Thursday, October 25th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of GBX 870.63 ($11.38).
Antofagasta stock opened at GBX 853.60 ($11.15) on Wednesday. Antofagasta has a 52 week low of GBX 11.12 ($0.15) and a 52 week high of GBX 1,071 ($13.99).
Antofagasta Company Profile
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 Railway and Other Transport Services segments. The company produces copper concentrates containing by-products, such as molybdenum, gold, and silver; and copper cathodes.
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