What Are Analysts Recommending for Antofagasta in 1Q18?


In the last article, we saw how analysts are rating Anglo American (AAL-L). In this article, we’ll look at Antofagasta’s (ANTO) ratings and target price. Antofagasta has received a “strong buy” rating from four analysts, while one analyst has given it a “buy” rating. Seven analysts have a “hold” rating on the stock, while the remaining ten analysts polled by Thomson Reuters on February 9 have rated Antofagasta as a “sell” or lower.

What Are Analysts Recommending for Antofagasta in 1Q18?

Antofagasta has received a mean consensus price target of 921.06 Great British pence (or GBp), which represents a 5.1% upside over its February 9 closing prices. The stock carried a target price of 903.30 GBp at the beginning of 2018. Let’s now see how analysts changed their ratings on Antofagasta this year.

Analyst action

In January, Barclays and Deutsche Bank raised Antofagasta’s price target to 995 GBp and 900 GBp, respectively. On February 5, J.P. Morgan raised Antofagasta’s price target from 660 GBp to 750 GBp. The brokerage had cut Antofagasta’s price target from 700 GBp to 660 GBp in January. On February 8, Berenberg upgraded Antofagasta from a “sell” to a “hold” and raised its target price from 750 GBp to 865 GBp.

4Q17 production report

Antofagasta produced 177,800 metric tons of copper in 4Q17, taking its 2017 copper production to 704,300 metric tons. The company expects to produce between 705,000 and 740,000 metric tons of copper in 2018. Glencore (GLEN-L) and Freeport-McMoRan (FCX) also expect their copper production to rise on a yearly basis this year.

In the next article, we’ll see how analysts are rating Southern Copper (SCCO).