Antofagasta's Technicals look encouraging.
There was a shift in the market expectations for Antofagasta plc (ANTO)'s earnings on 2024-03-12, prior to its next results.
Earnings estimates play a role in assessing a company's ability to pay dividends, a crucial factor for income-focused investors Average EPS has been revised down from 0.58 to 0.57 by 15 analysts.
The average yearly EPS is expected to be at 0.57 with the lower end expected at 0.49 and higher end at 0.7. This is an increase of about 0.018 from the EPS of 0.56 from a year ago. Also, the lower end of revenue is expected to be at 4956780000 and the higher band at 5687230000, with the average revenue expected to come in at 5196400000. This is an increase of about 0.055999998 from the revenue of 4919830000 from a year ago.
Elevated earnings estimates may result in price increases leading up to the next results, giving investors an early entry opportunity.
ANTO's price projections experienced an adjustment on 2024-03-12.
Through their in-depth research examinations, analysts offer investors a variety of maximum and minimum price projections for a particular stock, facilitating informed decision-making in the market. Analysis from 16 leading market analysts suggests that ANTO's future price is forecasted to fall within the range of 990.0 to 2079.0, with an average projection settling near 1557.0.
Upgrading price projections underscores a reevaluation of analysts' forecasts, driven by alterations in market dynamics, potentially stimulating a bullish momentum in trading.
Technical Summary
The current price of 1820.5 finds support at 1297.0 and resistance at 1356.0.
There is a continuation of Aroon's bullish trend with Aroon Up still remaining at the 100 level. This trend needs to be explored further in conjunction with other indicators.
The PSAR has just reversed direction from bearish to bullish in the latest move. Interpreted in conjunction with other indicators, this could be a very bullish signal if supported by a trend.
The moving averages for 20-50-100 are aligned bearishly but the slopes for the 20/50 SMAs are starting to waver, indicating a possible move to a bullish price action soon.
DISCLAIMER: We provide information and our musings based on events, but nothing on this site can be considered professional advice of any kind.
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