First Quantum Minerals (TSE:FM) Issues Earnings Results

First Quantum Minerals (TSE:FM) posted its quarterly earnings data on Tuesday. The company reported C$0.04 EPS for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.01, RTT News reports. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%.

First Quantum Minerals Price Performance

Shares of TSE FM traded down C$0.97 during mid-day trading on Tuesday, hitting C$18.83. 3,803,673 shares of the stock traded hands, compared to its average volume of 2,078,664. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41. First Quantum Minerals has a twelve month low of C$10.91 and a twelve month high of C$21.45. The company has a market cap of C$15.71 billion, a PE ratio of -7.27, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The firm has a 50 day simple moving average of C$19.13 and a two-hundred day simple moving average of C$18.01.

Analyst Upgrades and Downgrades

FM has been the topic of a number of recent research reports. 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. lowered their price objective on First Quantum Minerals from C$18.00 to C$17.00 in a research note on Thursday, January 30th. Jefferies Financial Group lowered their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. Canaccord Genuity Group downgraded First Quantum Minerals from a “buy” rating to a “hold” rating and reduced their target price for the company from C$24.00 to C$20.00 in a report on Thursday, January 16th. Finally, Barclays reduced their target price on First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$21.47.

Insiders Place Their Bets

In other First Quantum Minerals news, Director Simon John Scott acquired 1,397 shares of the stock in a transaction dated 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 firm’s stock in a transaction that occurred 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.