First Quantum Minerals (TSE:FM) Price Target Raised to C$19.80

First Quantum Minerals (TSE:FM) had its target price increased by research analysts at Morgan Stanley from C$18.90 to C$19.80 in a report released on Wednesday, BayStreet.CA reports. Morgan Stanley’s target price would indicate a potential upside of 9.45% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Bank of America increased their price objective on shares of First Quantum Minerals from C$16.00 to C$17.00 in a research report on Tuesday, April 9th. Canaccord Genuity Group reduced their price target on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Eight Capital upped their price target on shares of First Quantum Minerals from C$16.00 to C$17.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Royal Bank of Canada raised First Quantum Minerals from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$17.00 to C$18.00 in a research note on Monday, March 4th. Finally, Citigroup dropped their price objective on shares of First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating for the company in a report on Wednesday, January 10th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$17.02.

First Quantum Minerals Trading Down 2.2 %

FM stock traded down C$0.40 during midday trading on Wednesday, hitting C$18.09. 1,396,423 shares of the company’s stock were exchanged, compared to its average volume of 3,132,086. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$39.13. The stock’s fifty day moving average price is C$15.09 and its 200-day moving average price is C$14.12. The company has a market cap of C$15.08 billion, a PE ratio of -7.70, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The company has a debt-to-equity ratio of 52.05, a quick ratio of 1.41 and a current ratio of 2.68.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share for the quarter, missing the consensus estimate of C($0.10) by C($0.40). The business had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.58 billion. First Quantum Minerals had a negative return on equity of 12.97% and a negative net margin of 20.02%. Research analysts predict that First Quantum Minerals will post 0.9626943 earnings per share for the current fiscal 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.