First Quantum Minerals (TSE:FM) Given New C$24.00 Price Target at Royal Bank of Canada

First Quantum Minerals (TSE:FM) had its price objective boosted by Royal Bank of Canada from C$23.00 to C$24.00 in a report released on Wednesday,BayStreet.CA reports.

Other analysts have also issued reports about the company. CIBC raised their price objective on First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, November 8th. Barclays upgraded shares of First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, November 12th. Scotiabank raised their target price on shares of First Quantum Minerals from C$18.50 to C$23.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, National Bankshares upped their price target on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$21.05.

First Quantum Minerals Price Performance

Shares of TSE:FM opened at C$19.93 on Wednesday. The firm has a 50 day moving average of C$18.88 and a 200-day moving average of C$17.77. First Quantum Minerals has a 12 month low of C$10.91 and a 12 month high of C$21.45. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. The stock has a market capitalization of C$16.62 billion, a PE ratio of -7.69, a PEG ratio of -1.28 and a beta of 1.73.

Insider Buying and Selling at First Quantum Minerals

In related news, Director Simon John Scott bought 1,397 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were bought at an average price of C$18.57 per share, for a total transaction of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. Insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

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.