JPMorgan Chase & Co. Increases First Quantum Minerals (TSE:FM) Price Target to C$20.00

First Quantum Minerals (TSE:FM) had its price objective boosted by research analysts at JPMorgan Chase & Co. from C$17.00 to C$20.00 in a report issued on Wednesday, BayStreet.CA reports. JPMorgan Chase & Co.‘s target price points to a potential upside of 4.44% from the company’s previous close.

Several other analysts have also issued reports on FM. BMO Capital Markets lowered shares of First Quantum Minerals from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$17.00 to C$19.00 in a research report on Tuesday, May 21st. Eight Capital increased their target price on shares of First Quantum Minerals from C$16.00 to C$17.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. TD Securities increased their target price on shares of First Quantum Minerals from C$17.00 to C$18.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Citigroup upgraded shares of First Quantum Minerals from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$14.00 to C$26.00 in a report on Thursday, June 20th. Finally, Canaccord Genuity Group lowered their price objective on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “buy” rating for the company in a report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$19.27.

First Quantum Minerals Stock Down 0.1 %

FM opened at C$19.15 on Wednesday. The stock has a market cap of C$15.96 billion, a PE ratio of -8.29, a P/E/G ratio of -1.28 and a beta of 1.96. The company has a quick ratio of 1.41, a current ratio of 2.68 and a debt-to-equity ratio of 52.05. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$39.13. The business’s fifty day simple moving average is C$17.91 and its 200 day simple moving average is C$14.84.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.19) by C($0.08). First Quantum Minerals had a negative net margin of 20.02% and a negative return on equity of 12.97%. The business had revenue of C$1.40 billion for the quarter, compared to analysts’ expectations of C$1.25 billion. As a group, research analysts expect that First Quantum Minerals will post 1.0067358 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 49,250 shares of First Quantum Minerals stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of C$17.97, for a total value of C$885,022.50. 16.10% of the stock is currently owned by insiders.

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.