First Quantum Minerals (TSE:FM) Price Target Increased to C$22.00 by Analysts at Canaccord Genuity Group

First Quantum Minerals (TSE:FM) had its target price increased by Canaccord Genuity Group from C$21.00 to C$22.00 in a report published on Wednesday, BayStreet.CA reports.

Several other equities analysts have also weighed in on the company. Scotiabank reduced their price objective on First Quantum Minerals from C$14.50 to C$13.00 and set a sector perform rating on the stock in a research note on Thursday, February 22nd. TD Securities lifted their price objective on First Quantum Minerals from C$14.50 to C$15.50 and gave the company a hold rating in a research note on Monday, March 4th. Royal Bank of Canada raised First Quantum Minerals from a sector perform rating to an outperform rating and lifted their price objective for the company from C$17.00 to C$18.00 in a research note on Monday, March 4th. BMO Capital Markets lifted their price objective on First Quantum Minerals from C$7.50 to C$8.50 in a research note on Wednesday. Finally, National Bankshares raised First Quantum Minerals from a sector perform rating to an outperform rating and lifted their price objective for the company from C$15.00 to C$16.50 in a research note on Friday, March 1st. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of C$16.02.

First Quantum Minerals Stock Down 0.8 %

Shares of TSE:FM opened at C$15.96 on Wednesday. The stock’s 50-day moving average price is C$13.86 and its two-hundred day moving average price is C$15.47. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 81.21. First Quantum Minerals has a 12-month low of C$9.31 and a 12-month high of C$39.13. The firm has a market cap of C$13.30 billion, a price-to-earnings ratio of -8.53, a PEG ratio of -1.28 and a beta of 2.01.

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

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.