First Quantum Minerals (TSE:FM) Price Target Raised to C$20.20 at Morgan Stanley

First Quantum Minerals (TSE:FM) had its price target hoisted by Morgan Stanley from C$19.40 to C$20.20 in a report published on Thursday morning, BayStreet.CA reports.

Several other research firms have also recently commented on FM. Cormark cut their target price on First Quantum Minerals from C$25.00 to C$23.50 and set a buy rating on the stock in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price objective on shares of 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. Barclays increased their target price on shares of First Quantum Minerals from C$16.00 to C$18.00 in a report on Thursday, August 1st. Citigroup upgraded shares of First Quantum Minerals from a neutral rating to a buy rating and lifted their price target for the company from C$14.00 to C$26.00 in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of First Quantum Minerals from C$20.00 to C$16.00 in a research report on Friday, July 19th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of C$20.12.

First Quantum Minerals Trading Down 0.6 %

Shares of TSE:FM opened at C$17.84 on Thursday. The firm has a market cap of C$14.88 billion, a price-to-earnings ratio of -7.00, a PEG ratio of -1.28 and a beta of 1.72. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$33.31. The company’s fifty day simple moving average is C$16.47 and its 200 day simple moving average is C$16.51. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.05) by C$0.02. The firm had revenue of C$1.68 billion for the quarter, compared to the consensus estimate of C$1.42 billion. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. As a group, research analysts forecast that First Quantum Minerals will post 1.0143443 EPS for the current fiscal year.

Insider Buying and Selling

In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total value of C$264,640.00. 19.35% of the stock is owned by insiders.

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.