First Quantum Minerals (TSE:FM) Price Target Cut to C$19.50 by Analysts at Jefferies Financial Group

First Quantum Minerals (TSE:FM) had its target price dropped by stock analysts at Jefferies Financial Group from C$20.00 to C$19.50 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target suggests a potential upside of 23.03% from the company’s current price.

Several other research analysts also recently issued reports on FM. Scotiabank lowered their price objective on shares of First Quantum Minerals from C$14.50 to C$13.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 22nd. Bank of America boosted their price target on First Quantum Minerals from C$16.00 to C$17.00 in a research report on Tuesday, April 9th. Eight Capital increased their price objective on First Quantum Minerals from C$16.00 to C$17.00 and gave the stock a “neutral” rating in a research report on Monday. BMO Capital Markets lowered their target price on First Quantum Minerals from C$17.50 to C$17.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, TD Securities upped their price target on First Quantum Minerals from C$14.50 to C$15.50 and gave the stock a “hold” rating in a research note on Monday, March 4th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, First Quantum Minerals has a consensus rating of “Hold” and a consensus target price of C$16.85.

First Quantum Minerals Stock Up 2.1 %

FM traded up C$0.33 on Wednesday, reaching C$15.85. The company’s stock had a trading volume of 1,497,826 shares, compared to its average volume of 3,020,665. The company has a market capitalization of C$13.21 billion, a price-to-earnings ratio of -8.49, a P/E/G ratio of -1.28 and a beta of 2.01. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week high of C$39.13. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 81.21. The stock has a 50 day moving average of C$14.01 and a two-hundred day moving average of C$15.07.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing the consensus estimate of C($0.10) by C($0.40). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The company had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.58 billion. As a group, analysts forecast that First Quantum Minerals will post 0.7906736 EPS for the current fiscal year.

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.