Antofagasta (LON:ANTO) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Antofagasta plc (LON:ANTO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,766.17 ($22.80) and traded as high as GBX 1,885.50 ($24.34). Antofagasta shares last traded at GBX 1,817.50 ($23.47), with a volume of 2,640,067 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 2,400 ($30.99) price target on shares of Antofagasta in a research note on Thursday, March 6th. Citigroup decreased their target price on shares of Antofagasta from GBX 2,800 ($36.15) to GBX 2,500 ($32.28) and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 2,125 ($27.44) price target on shares of Antofagasta in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of GBX 2,185 ($28.21).

Antofagasta Price Performance

The company has a market capitalization of £22.39 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of -1.08 and a beta of 1.00. The business’s 50-day moving average is GBX 1,781.99 and its two-hundred day moving average is GBX 1,766.17. The company has a quick ratio of 2.78, a current ratio of 2.14 and a debt-to-equity ratio of 65.33.

Antofagasta Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, May 12th. Shareholders of record on Thursday, April 17th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, April 17th. This represents a dividend yield of 0.93%. This is a boost from Antofagasta’s previous dividend of $0.08. Antofagasta’s dividend payout ratio (DPR) is currently 41.91%.

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.