Shares in Antofagasta PLC look fair value after May sell off, says Peel Hunt
Peel Hunt upgraded its recommendation from ‘Reduce’ to ‘Hold’ Shares in Antofagasta PLC (LON:ANTO) have dropped more than 20% from their peak this month making the Chilean copper producer look fair value, said Peel Hunt analyst John Gilbert. “Rising political pressure in Chile to review and reset mining taxation rates has seen ANTO’s share price sell off sharply through May,” he said. Peel Hunt reduced its target multiple to account for the increased political uncertainty, and...
Source: proactiveinvestors.co.uk