First Quantum Minerals (TSE:FM) Price Target Raised to C$24.00

First Quantum Minerals (TSE:FM) had its price objective increased by Royal Bank of Canada from C$23.00 to C$24.00 in a report released on Wednesday morning,BayStreet.CA reports.

Several other equities analysts have also recently commented on FM. CIBC raised their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group decreased their target price on First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. Barclays raised First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. National Bankshares increased their price target on First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Scotiabank boosted their price objective on First Quantum Minerals from C$18.50 to C$23.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, First Quantum Minerals currently has an average rating of “Hold” and an average target price of C$21.05.

First Quantum Minerals Stock Down 4.4 %

Shares of TSE:FM opened at C$19.83 on Wednesday. The firm has a market capitalization of C$16.54 billion, a PE ratio of -7.66, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 1 year low of C$10.91 and a 1 year high of C$21.45. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41. The firm’s 50-day moving average is C$18.95 and its two-hundred day moving average is C$17.81.

Insider Transactions at First Quantum Minerals

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