First Quantum Minerals (TSE:FM) Given New C$20.00 Price Target at TD Securities

First Quantum Minerals (TSE:FM) had its price objective raised by investment analysts at TD Securities from C$19.00 to C$20.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 3.20% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Morgan Stanley boosted their price target on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada raised their price objective on shares of First Quantum Minerals from C$23.00 to C$24.00 in a report on Wednesday, January 8th. Scotiabank lowered their target price on First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating for the company in a report on Thursday, January 16th. CIBC boosted their target price on First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. Finally, Canaccord Genuity Group cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$24.00 to C$20.00 in a research note on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, First Quantum Minerals has an average rating of “Hold” and a consensus price target of C$21.57.

First Quantum Minerals Stock Performance

Shares of TSE:FM traded up C$0.47 during midday trading on Thursday, hitting C$19.38. The company’s stock had a trading volume of 1,094,813 shares, compared to its average volume of 2,072,215. First Quantum Minerals has a fifty-two week low of C$10.91 and a fifty-two week high of C$21.45. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The stock has a market capitalization of C$11.00 billion, a price-to-earnings ratio of -7.16, a PEG ratio of -1.28 and a beta of 1.73. The stock’s 50 day simple moving average is C$19.12 and its 200 day simple moving average is C$18.01.

First Quantum Minerals (TSE:FM) last released its earnings results on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, beating the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same quarter in the previous year, the company posted ($0.37) earnings per share. As a group, research analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Simon John Scott purchased 1,397 shares of the stock in a transaction dated Tuesday, December 31st. The shares were 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 dated Friday, December 6th. The stock was sold at an average price of C$20.32, for a total value of C$914,400.00. 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.