Cormark Trims First Quantum Minerals (TSE:FM) Target Price to C$23.50

First Quantum Minerals (TSE:FM) had its target price reduced by Cormark from C$25.00 to C$23.50 in a report released on Thursday, BayStreet.CA reports. Cormark currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Scotiabank lifted their price objective on First Quantum Minerals from C$18.00 to C$19.00 and gave the stock a sector perform rating in a research report on Thursday, May 30th. Raymond James raised their target price on First Quantum Minerals from C$19.00 to C$21.00 in a research note on Thursday, May 23rd. Stifel Nicolaus raised their target price on First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a hold rating in a research note on Thursday, May 30th. Jefferies Financial Group raised their target price on First Quantum Minerals from C$19.50 to C$23.00 in a research note on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a hold rating to a buy rating and raised their target price for the stock from C$19.00 to C$26.00 in a research note on Wednesday, June 26th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, First Quantum Minerals presently has a consensus rating of Hold and an average price target of C$19.88.

First Quantum Minerals Stock Performance

Shares of First Quantum Minerals stock opened at C$16.77 on Thursday. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$39.13. The company has a market cap of C$13.98 billion, a price-to-earnings ratio of -7.26, a PEG ratio of -1.28 and a beta of 1.96. The company has a debt-to-equity ratio of 52.05, a quick ratio of 1.41 and a current ratio of 2.68. The business’s 50 day moving average price is C$17.70 and its 200 day moving average price is C$15.56.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of C$17.97, for a total transaction of C$885,022.50. 16.10% of the stock is currently owned by insiders.

About First Quantum Minerals

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.