Antofagasta plc (OTCMKTS:ANFGF) Sees Large Drop in Short Interest

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Antofagasta plc (OTCMKTS:ANFGF) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 2,277,200 shares, a drop of 34.3% from the July 15th total of 3,463,700 shares. Based on an average daily volume of 5,200 shares, the short-interest ratio is presently 437.9 days.

ANFGF traded up $0.10 during trading on Thursday, reaching $15.00. 602 shares of the company’s stock were exchanged, compared to its average volume of 2,233. Antofagasta has a one year low of $7.30 and a one year high of $15.00. The firm has a fifty day moving average price of $13.23 and a two-hundred day moving average price of $10.89.

A number of brokerages have commented on ANFGF. Scotiabank reiterated a “sector perform” rating on shares of Antofagasta in a research note on Thursday, July 23rd. Citigroup cut shares of Antofagasta from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 21st. Morgan Stanley reiterated an “underweight” rating on shares of Antofagasta in a research note on Friday, July 10th. UBS Group reissued a “neutral” rating on shares of Antofagasta in a report on Thursday, June 25th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating on shares of Antofagasta in a report on Thursday, August 6th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has a consensus rating of “Hold”.

About Antofagasta

Antofagasta plc, through its subsidiaries, primarily engages in the exploration, evaluation, development, and mining of copper properties in Chile. It operates through Los Pelambres, Centinela, Antucoya, Zaldívar, Exploration and Evaluation, and Transport segments. The company produces copper concentrates containing by-products, such as molybdenum, gold, and silver; and copper cathodes.

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