CIBC Boosts First Quantum Minerals (TSE:FM) Price Target to C$20.00

First Quantum Minerals (TSE:FM) had its price target lifted by CIBC from C$18.00 to C$20.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports.

FM has been the topic of a number of other research reports. Canaccord Genuity Group lifted their price target on shares of First Quantum Minerals from C$22.00 to C$25.00 in a research note on Monday, July 22nd. Eight Capital upped their target price on shares of First Quantum Minerals from C$17.00 to C$22.00 in a research note on Thursday, July 11th. Royal Bank of Canada lowered their target price on First Quantum Minerals from C$25.00 to C$22.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. National Bankshares cut their price target on First Quantum Minerals from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Finally, Cormark decreased their price objective on First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating for the company in a report on Thursday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, First Quantum Minerals has a consensus rating of “Hold” and a consensus target price of C$20.83.

First Quantum Minerals Stock Performance

The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$28.80. The firm has a market capitalization of C$15.77 billion, a price-to-earnings ratio of -7.58, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The firm has a fifty day moving average of C$17.15 and a 200-day moving average of C$17.14.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.05) by C$0.02. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. The company had revenue of C$1.68 billion for the quarter, compared to analysts’ expectations of C$1.42 billion. Sell-side analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Activity

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total transaction of C$117,165.19. In other news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of First Quantum Minerals stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total value of C$264,640.00. Also, Senior Officer Zenon Wozniak sold 6,323 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total value of C$117,165.19. 19.35% of the stock is owned by company insiders.

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.