First Quantum Minerals (TSE:FM) Price Target Raised to C$18.50 at Scotiabank

First Quantum Minerals (TSE:FM) had its price objective increased by Scotiabank from C$17.00 to C$18.50 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 3.70% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price target for the company from C$19.00 to C$26.00 in a report on Wednesday, June 26th. CIBC lifted their target price on shares of First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a “neutral” rating in a research report on Thursday, June 20th. Citigroup upgraded shares of First Quantum Minerals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from C$14.00 to C$26.00 in a research report on Thursday, June 20th. 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. Finally, Jefferies Financial Group lifted their price objective on shares of First Quantum Minerals from C$19.50 to C$23.00 in a research note on Monday, July 8th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$20.19.

First Quantum Minerals Price Performance

FM stock traded down C$0.95 during mid-day trading on Tuesday, hitting C$17.84. The stock had a trading volume of 1,259,146 shares, compared to its average volume of 2,694,770. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$32.47. The firm has a market capitalization of C$14.88 billion, a P/E ratio of -7.02, a P/E/G ratio of -1.28 and a beta of 1.73. The firm has a fifty day simple moving average of C$16.65 and a 200 day simple moving average of C$16.82.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.05) by C$0.02. The company had revenue of C$1.68 billion for the quarter, compared to analyst estimates of C$1.42 billion. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. As a group, research analysts forecast that First Quantum Minerals will post 0.3652482 EPS for the current year.

Insider Transactions at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 6,323 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value of C$117,165.19. In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of C$16.54, for a total transaction of C$264,640.00. Also, Senior Officer Zenon Wozniak sold 6,323 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. Company 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.