First Quantum Minerals (TSE:FM) Price Target Raised to C$23.00

First Quantum Minerals (TSE:FM) had its price objective increased by Jefferies Financial Group from C$19.50 to C$23.00 in a research note published on Monday, BayStreet.CA reports.

Several other analysts also recently issued reports on the company. Stifel Nicolaus lifted their price target on First Quantum Minerals from C$15.00 to C$18.00 and gave the company a hold rating in a research note on Thursday, May 30th. Raymond James lifted their price target on First Quantum Minerals from C$19.00 to C$21.00 in a research note on Thursday, May 23rd. Morgan Stanley downgraded First Quantum Minerals from an overweight rating to an equal weight rating in a research note on Monday. Eight Capital lifted their price target on First Quantum Minerals from C$16.00 to C$17.00 and gave the company a neutral rating in a research note on Monday, April 22nd. Finally, Citigroup raised First Quantum Minerals from a neutral rating to a buy rating and lifted their price target for the company from C$14.00 to C$26.00 in a research note on Thursday, June 20th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of C$19.74.

First Quantum Minerals Stock Performance

Shares of First Quantum Minerals stock opened at C$18.67 on Monday. The company has a market capitalization of C$15.56 billion, a PE ratio of -8.08, a PEG ratio of -1.28 and a beta of 1.96. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$39.13. The company has a current ratio of 2.68, a quick ratio of 1.41 and a debt-to-equity ratio of 52.05. The stock’s fifty day simple moving average is C$18.00 and its 200 day simple moving average is C$15.11.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported C($0.27) EPS for the quarter, missing the consensus estimate of C($0.19) by C($0.08). The business had revenue of C$1.40 billion for the quarter, compared to analyst estimates of C$1.25 billion. First Quantum Minerals had a negative return on equity of 12.97% and a negative net margin of 20.02%. On average, research analysts predict that First Quantum Minerals will post 1.0067358 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of First Quantum Minerals stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of C$17.97, for a total transaction of C$885,022.50. 16.10% of the stock is currently owned by corporate insiders.

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.