First Quantum Minerals (TSE:FM) Given New C$21.50 Price Target at Scotiabank

First Quantum Minerals (TSE:FM) had its target price cut by Scotiabank from C$22.00 to C$21.50 in a research report released on Thursday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Royal Bank of Canada upped their target price on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Barclays raised First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a report on Tuesday, November 12th. National Bankshares lifted their target price on First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, CIBC lifted their price objective on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, First Quantum Minerals has an average rating of “Hold” and a consensus price target of C$21.18.

First Quantum Minerals Stock Down 3.8 %

Shares of TSE FM opened at C$18.73 on Thursday. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35. First Quantum Minerals has a 1 year low of C$10.91 and a 1 year high of C$21.45. The stock’s 50-day simple moving average is C$19.07 and its 200-day simple moving average is C$17.90. The firm has a market cap of C$15.62 billion, a price-to-earnings ratio of -7.23, a PEG ratio of -1.28 and a beta of 1.73.

Insider Activity at First Quantum Minerals

In other news, Director Simon John Scott purchased 1,397 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was purchased at an average cost of C$18.57 per share, with a total value of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of C$20.32, for a total value of C$914,400.00. Company 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.