Insider Buying: First Quantum Minerals Ltd. (TSE:FM) Director Purchases 25,000 Shares of Stock

First Quantum Minerals Ltd. (TSE:FM) Director Charles Kevin Mcarthur acquired 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of C$17.23 per share, with a total value of C$430,842.13.

First Quantum Minerals Stock Performance

First Quantum Minerals stock traded down C$0.02 during midday trading on Tuesday, hitting C$17.17. 1,111,387 shares of the company’s stock were exchanged, compared to its average volume of 2,122,008. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The stock has a market cap of C$9.75 billion, a price-to-earnings ratio of -6.35, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals Ltd. has a 12-month low of C$12.77 and a 12-month high of C$21.45. The firm’s 50 day simple moving average is C$18.89 and its 200 day simple moving average is C$18.12.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same quarter last year, the company earned ($0.37) EPS. Equities research analysts predict that First Quantum Minerals Ltd. will post 0.55872 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FM shares. Scotiabank cut their price target on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group decreased 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. Royal Bank of Canada boosted their price target on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Morgan Stanley increased their price objective on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Finally, TD Securities boosted their target price on First Quantum Minerals from C$19.00 to C$20.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, First Quantum Minerals currently has an average rating of “Hold” and a consensus price target of C$21.57.

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.