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Analysts change Antofagasta stock recommendation ahead of ex-dividend date

April 29, 2013 - 14:12 GMT Location: London

KEYWORDS: Antofagasta , shares , ex-dividend , Investec , reduce

Analysts at Investec have put out a reduce recommendation on Antofagasta shares as its ex-dividend date approaches.

The stock recommendation from sell to reduce is a week before the date that Antofagasta will pay out nearly $900 million to shareholders. The ex-dividend date is on May 8, the analysts said, and the payment to shareholders will be made up of the final dividend of 12.5 cents per share and the special dividend of 77.5 cents per share. "We have updated our commodity price assumptions, with lower near-term prices reducing our [target price] to 892 pence [$13.80] per share from 934 pence per share," they said in a...

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