JPMorgan Chase & Co. Lowers First Quantum Minerals (TSE:FM) Price Target to C$17.00

First Quantum Minerals (TSE:FM) had its price objective cut by JPMorgan Chase & Co. from C$18.00 to C$17.00 in a research report issued on Monday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target suggests a potential downside of 11.23% from the company’s current price.

Several other analysts also recently commented on the company. Barclays upgraded First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. National Bankshares raised their target price on First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research note on Thursday, October 24th. 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 research note on Thursday, January 16th. 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. Finally, Jefferies Financial Group dropped their price target on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$21.13.

First Quantum Minerals Stock Performance

TSE FM opened at C$19.15 on Monday. The company has a market capitalization of C$15.97 billion, a price-to-earnings ratio of -7.39, a PEG ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a twelve month low of C$10.91 and a twelve month high of C$21.45. The stock has a fifty day simple moving average of C$19.10 and a 200 day simple moving average of C$17.96. 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 (TSE:FM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported C$0.19 earnings per share for the quarter. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. During the same quarter in the prior year, the company posted $0.70 earnings per share. Sell-side analysts expect that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Director Simon John Scott purchased 1,397 shares of the stock in a transaction on Tuesday, December 31st. The stock was acquired 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 business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. 19.35% 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.