Brokerages Set First Quantum Minerals Ltd. (TSE:FM) PT at C$20.12

First Quantum Minerals Ltd. (TSE:FM) has earned a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$20.41.

Several analysts recently issued reports on FM shares. Scotiabank increased their price objective on First Quantum Minerals from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a report on Tuesday, October 8th. Citigroup upgraded First Quantum Minerals from a “neutral” rating to a “buy” rating and lifted their price target for the company from C$14.00 to C$26.00 in a report on Thursday, June 20th. Royal Bank of Canada dropped their price objective on First Quantum Minerals from C$25.00 to C$22.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Thursday. Finally, Barclays increased their price target on shares of First Quantum Minerals from C$16.00 to C$18.00 in a research note on Thursday, August 1st.

First Quantum Minerals Price Performance

FM stock opened at C$18.31 on Friday. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$32.47. The firm has a 50-day moving average of C$16.74 and a two-hundred day moving average of C$16.89. The firm has a market capitalization of C$15.27 billion, a PE ratio of -7.21, a P/E/G ratio of -1.28 and a beta of 1.73. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00.

First Quantum Minerals (TSE:FM) last released its earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.02. The company had revenue of C$1.68 billion during the quarter, compared to analyst estimates of C$1.42 billion. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. On average, analysts forecast that First Quantum Minerals will post 0.3652482 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of C$16.54, for a total value of C$264,640.00. Also, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value of C$117,165.19. Corporate insiders own 19.35% of the company’s stock.

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.