Antofagasta plc -29.6% potential downside indicated by JP Morgan

Broker Ratings

Antofagasta plc with ticker (LON:ANTO) now has a potential downside of -29.6% according to JP Morgan.

JP Morgan set a target price of 1,260 GBX for the company, which when compared to the Antofagasta plc share price of 1,633 GBX at opening today (07/03/2023) indicates a potential downside of -29.6%. Trading has ranged between 971 (52 week low) and 1,838 (52 week high) with an average of 1,629,014 shares exchanging hands daily. The market capitalisation at the time of writing is £15,800,370,512.

Antofagasta plc is a United Kingdom-based copper mining company with interests in transport. The Company’s operations are related to mining and exploration activities, and the transport of rail and road cargo. The Company operates through two divisions: Mining and Transport. Through its Mine division, the Company owns and operates four mines: Los Pelambres, which is located in the Coquimbo region of central Chile, and Centinela, Antucoya and Zaldivar are located in the Antofagasta region of northern Chile. The Company’s Transport division is known as Ferrocarril de Antofagasta a Bolivia (FCAB) and provides rail and truck services to the mining industry in the Antofagasta region, including the Company’s own mining operations. The Los Pelambres is a sulphide deposit in Chile’s Coquimbo Region, located approximately 240 kilometers (kms) north of Santiago. Its Centinela mines sulphide and oxide deposits, which is located approximately 1,350 kms north of Santiago in the Antofagasta Region.

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