First Quantum Minerals (TSE:FM) PT Lowered to C$22.00

First Quantum Minerals (TSE:FM) had its price target cut by research analysts at Royal Bank of Canada from C$25.00 to C$22.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 51.93% from the company’s previous close.

Several other analysts have also issued reports on the stock. Scotiabank dropped their price target on shares of First Quantum Minerals from C$18.50 to C$17.00 in a research report on Monday, August 19th. BMO Capital Markets downgraded First Quantum Minerals from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from C$17.00 to C$19.00 in a research report on Tuesday, May 21st. Cormark dropped their price objective on First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$19.00 to C$26.00 in a research note on Wednesday, June 26th. Finally, Eight Capital increased their price target on First Quantum Minerals from C$17.00 to C$22.00 in a research note on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, First Quantum Minerals has an average rating of “Hold” and an average target price of C$20.12.

First Quantum Minerals Price Performance

FM traded down C$0.04 during midday trading on Tuesday, hitting C$14.48. The company had a trading volume of 382,483 shares, compared to its average volume of 2,733,711. First Quantum Minerals has a twelve month low of C$9.31 and a twelve month high of C$36.02. The firm’s 50-day simple moving average is C$16.74 and its 200-day simple moving average is C$16.23. The company has a market capitalization of C$12.08 billion, a PE ratio of -5.71, a P/E/G ratio of -1.28 and a beta of 1.75. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data 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. The business had revenue of C$1.68 billion during the quarter, compared to the consensus estimate of C$1.42 billion. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. Equities research analysts predict that First Quantum Minerals will post 0.8792746 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the business’s stock in a transaction 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 owned by 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.