First Quantum Minerals (TSE:FM) PT Raised to C$23.00

First Quantum Minerals (TSE:FM) had its target price hoisted by research analysts at Royal Bank of Canada from C$22.00 to C$23.00 in a report released on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 24.46% from the stock’s current price.

FM has been the topic of several other reports. Barclays cut their price target on shares of First Quantum Minerals from C$18.00 to C$17.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Canaccord Genuity Group lifted their price target on shares of First Quantum Minerals from C$22.00 to C$25.00 in a report on Monday, July 22nd. Eight Capital lifted their price target on shares of First Quantum Minerals from C$17.00 to C$22.00 in a report on Thursday, July 11th. Jefferies Financial Group lifted their price target on shares of First Quantum Minerals from C$19.50 to C$23.00 in a report on Monday, July 8th. Finally, Morgan Stanley lifted their price objective on shares of First Quantum Minerals from C$19.40 to C$20.20 in a research note on Thursday, September 19th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, First Quantum Minerals has an average rating of “Hold” and a consensus target price of C$20.83.

First Quantum Minerals Stock Down 0.7 %

FM stock traded down C$0.13 during trading on Thursday, hitting C$18.48. 1,169,052 shares of the company’s stock traded hands, compared to its average volume of 2,650,488. The firm has a market capitalization of C$15.41 billion, a P/E ratio of -7.14, a PEG ratio of -1.28 and a beta of 1.73. The business has a fifty day simple moving average of C$17.07 and a two-hundred day simple moving average of C$17.11. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a 1 year low of C$9.31 and a 1 year high of C$30.68.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.05) by C$0.02. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. The business had revenue of C$1.68 billion for the quarter, compared to analyst estimates of C$1.42 billion. Sell-side analysts anticipate that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Activity

In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of C$16.54, for a total transaction of C$264,640.00. In other First Quantum Minerals 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 the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value of C$117,165.19. 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.