First Quantum Minerals (TSE:FM) Price Target Raised to C$22.00

First Quantum Minerals (TSE:FM) had its price objective lifted by research analysts at Canaccord Genuity Group from C$21.00 to C$22.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. Canaccord Genuity Group’s price objective would suggest a potential upside of 48.85% from the stock’s previous close.

A number of other brokerages also recently weighed in on FM. Raymond James raised their target price on shares of First Quantum Minerals from C$13.00 to C$16.00 in a research note on Wednesday, March 20th. Stifel Nicolaus set a C$14.00 price target on First Quantum Minerals and gave the company a “hold” rating in a research report on Tuesday, March 26th. BMO Capital Markets upped their price objective on First Quantum Minerals from C$7.50 to C$8.50 in a report on Wednesday. Barclays increased their price objective on First Quantum Minerals from C$13.00 to C$16.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Bank of America boosted their target price on First Quantum Minerals from C$16.00 to C$17.00 in a research report on Tuesday, April 9th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$16.02.

First Quantum Minerals Price Performance

Shares of First Quantum Minerals stock traded down C$0.69 during trading on Wednesday, hitting C$14.78. The stock had a trading volume of 3,043,059 shares, compared to its average volume of 3,031,430. 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$12.32 billion, a price-to-earnings ratio of -7.90, a P/E/G ratio of -1.28 and a beta of 2.01. The business’s 50-day moving average is C$13.65 and its 200 day moving average is C$15.58.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing the consensus estimate of C($0.10) by C($0.40). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The business had revenue of C$1.66 billion for the quarter, compared to analysts’ expectations of C$1.58 billion. As a group, sell-side analysts anticipate that First Quantum Minerals will post 0.7906736 earnings per share for the current year.

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.