First Quantum Minerals (TSE:FM) Price Target Raised to C$22.50

First Quantum Minerals (TSE:FM) had its target price hoisted by National Bankshares from C$21.00 to C$22.50 in a research note published on Thursday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently commented on FM. Morgan Stanley upped their target price on shares of First Quantum Minerals from C$19.40 to C$20.20 in a report on Thursday, September 19th. CIBC upped their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday. Royal Bank of Canada upped their target price on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Thursday, October 10th. Finally, Cormark dropped their target price on First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating for the company in a report on Thursday, July 25th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Hold” and a consensus price target of C$20.83.

First Quantum Minerals Stock Down 0.5 %

FM opened at C$18.51 on Thursday. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. The firm has a 50 day moving average price of C$17.15 and a 200-day moving average price of C$17.14. First Quantum Minerals has a twelve month low of C$9.31 and a twelve month high of C$30.68. The stock has a market capitalization of C$15.44 billion, a price-to-earnings ratio of -7.15, a PEG ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last announced its 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 net margin of 24.07% and a negative return on equity of 14.87%. The business had revenue of C$1.68 billion during the quarter, compared to analysts’ expectations of C$1.42 billion. Equities research analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value of C$117,165.19. In other news, Senior Officer Zenon Wozniak sold 6,323 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total transaction of C$117,165.19. Also, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was 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 corporate 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.