Barclays downgraded Antofagasta to Underweight from Equal Weight with a price target of 1,295 GBp, down from 1,375 GBp. The stock’s valuation multiples are at an eight-year high and Antofagasta is trading at over a 40% premium to base metal peers, the analyst tells investors in a research note. The firm adds the company’s rising capital expenditure implies it will see “meaningful” negative free cash flow through 2026.
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Read More on ANFGF:
- Antofagasta (ANTO) Unveils Dividend Details for Q2: Mark Your Calendar!
- Antofagasta price target lowered to 1,320 GBp from 1,380 GBp at JPMorgan
- Antofagasta downgraded to Reduce from Hold at Peel Hunt
- Antofagasta price target lowered to 1,375 GBp from 1,390 GBp at Barclays
- Antofagasta price target raised to 1,380 GBp from 1,350 GBp at JPMorgan
