Royal Bank of Canada set a C$33.00 price target on First Quantum Minerals (TSE:FM) in a research note published on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.
FM has been the topic of a number of other research reports. Raymond James reaffirmed an outperform rating and set a C$35.00 price target on shares of First Quantum Minerals in a report on Wednesday, October 27th. Morgan Stanley reaffirmed a na rating and set a C$39.00 price target (up previously from C$31.00) on shares of First Quantum Minerals in a report on Thursday, December 9th. Eight Capital raised their price target on shares of First Quantum Minerals from C$34.00 to C$35.00 in a report on Thursday, October 21st. Bank of America downgraded shares of First Quantum Minerals from a buy rating to a neutral rating and dropped their price target for the company from C$40.00 to C$24.50 in a report on Wednesday, September 22nd. Finally, CSFB set a C$25.00 price target on shares of First Quantum Minerals and gave the company a neutral rating in a report on Wednesday, October 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Buy and an average price target of C$35.15.
Shares of FM stock opened at C$34.71 on Wednesday. First Quantum Minerals has a one year low of C$19.21 and a one year high of C$36.25. The company’s 50-day moving average is C$29.17 and its 200 day moving average is C$27.11. The company has a market capitalization of C$23.99 billion and a price-to-earnings ratio of 31.67. The company has a debt-to-equity ratio of 86.85, a quick ratio of 1.14 and a current ratio of 1.89.
In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 11,671 shares of the firm’s stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of C$28.30, for a total transaction of C$330,289.30. Following the sale, the insider now owns 16,421 shares in the company, valued at approximately C$464,714.30.
About First Quantum Minerals
First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, gold, silver, and zinc ores, as well as produces acid. The company holds 100% interests in the Ravensthorpe nickel and cobalt mine in Australia; the Sentinel copper project in North Western Province of Zambia; the Las Cruces copper mine in Spain; the Guelb Moghrein copper-gold mine in Mauritania; the PyhÃ¤salmi copper, pyrite, zinc mine in Finland; and the Ãayeli copper-zinc mine in Turkey.
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