First Quantum Minerals (TSE:FM) Price Target Raised to C$18.00

First Quantum Minerals (TSE:FMFree Report) had its price target raised by CIBC from C$15.00 to C$18.00 in a research report report published on Thursday, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. National Bank Financial raised First Quantum Minerals from a sec perform spec market wgt rating to an outperform spec market weight rating in a report on Thursday, February 29th. Canaccord Genuity Group decreased their price target on First Quantum Minerals from C$22.00 to C$21.50 and set a buy rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada raised First Quantum Minerals from a sector perform rating to an outperform rating and raised their price target for the company from C$17.00 to C$18.00 in a report on Monday, March 4th. Stifel Nicolaus raised their price target on First Quantum Minerals from C$15.00 to C$18.00 and gave the company a hold rating in a report on Thursday, May 30th. Finally, Raymond James raised their price objective on First Quantum Minerals from C$19.00 to C$21.00 in a research report on Thursday, May 23rd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of C$18.69.

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First Quantum Minerals Price Performance

Shares of First Quantum Minerals stock opened at C$17.13 on Thursday. 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 is C$17.36 and its 200 day moving average is C$14.37. The stock has a market cap of C$14.28 billion, a P/E ratio of -7.42, a P/E/G ratio of -1.28 and a beta of 1.96. 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:FMGet Free Report) last announced its earnings results on Tuesday, April 23rd. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). First Quantum Minerals had a negative return on equity of 12.97% and a negative net margin of 20.02%. The company had revenue of C$1.40 billion during the quarter, compared to the consensus estimate of C$1.25 billion. Sell-side analysts anticipate that First Quantum Minerals will post 1.0067358 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of First Quantum Minerals stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of C$17.97, for a total value of C$885,022.50. 16.10% of the stock is currently owned by company insiders.

About First Quantum Minerals

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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.

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