Morgan Stanley Raises First Quantum Minerals (TSE:FM) Price Target to C$20.20

First Quantum Minerals (TSE:FM) had its price target upped by stock analysts at Morgan Stanley from C$19.40 to C$20.20 in a research note issued on Thursday, BayStreet.CA reports. Morgan Stanley’s price objective points to a potential upside of 13.23% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Jefferies Financial Group increased their price target on First Quantum Minerals from C$19.50 to C$23.00 in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating and raised their target price for the stock from C$19.00 to C$26.00 in a research report on Wednesday, June 26th. Canaccord Genuity Group raised their target price on First Quantum Minerals from C$22.00 to C$25.00 in a research report on Monday, July 22nd. Raymond James raised their target price on First Quantum Minerals from C$19.00 to C$21.00 in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus raised their target price on First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Hold” and a consensus price target of C$20.12.

First Quantum Minerals Stock Down 0.6 %

Shares of FM opened at C$17.84 on Thursday. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$33.31. The stock has a market capitalization of C$14.88 billion, a price-to-earnings ratio of -7.00, a PEG ratio of -1.28 and a beta of 1.72. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35. The stock has a fifty day moving average of C$16.47 and a 200-day moving average of C$16.48.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported C($0.03) EPS for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.02. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. The company had revenue of C$1.68 billion during the quarter, compared to analysts’ expectations of C$1.42 billion. As a group, sell-side analysts anticipate that First Quantum Minerals will post 1.0143443 earnings per share for the current fiscal year.

Insider Activity

In related 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. 19.35% of the stock is currently owned by company 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.