First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

First Quantum Minerals (TSE:FM) had its target price raised by analysts at Royal Bank of Canada from C$23.00 to C$24.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price objective suggests a potential upside of 23.52% from the company’s current price.

Several other brokerages have also recently weighed in on FM. Scotiabank boosted their target price on First Quantum Minerals from C$18.50 to C$23.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Jefferies Financial Group lowered their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday. JPMorgan Chase & Co. cut their target price on First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, November 8th. CIBC boosted their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Finally, National Bankshares upped their price objective on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$21.05.

First Quantum Minerals Price Performance

Shares of First Quantum Minerals stock traded down C$0.40 during trading hours on Wednesday, reaching C$19.43. 885,953 shares of the company’s stock were exchanged, compared to its average volume of 1,503,788. The business has a fifty day moving average of C$18.88 and a two-hundred day moving average of C$17.77. 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 company has a market capitalization of C$16.21 billion, a P/E ratio of -7.50, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 1 year low of C$10.91 and a 1 year high of C$21.45.

Insider Transactions at First Quantum Minerals

In related news, Director Simon John Scott acquired 1,397 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were acquired at an average price of C$18.57 per share, with a total value of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of First Quantum Minerals stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$20.32, for a total value of C$914,400.00. Corporate insiders own 19.35% of the company’s stock.

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.