Barclays Trims First Quantum Minerals (TSE:FM) Target Price to C$17.00

First Quantum Minerals (TSE:FM) had its price target trimmed by Barclays from C$18.00 to C$17.00 in a research note released on Wednesday morning, BayStreet.CA reports. The firm currently has an equal weight rating on the stock.

A number of other research firms also recently weighed in on FM. National Bankshares decreased their price objective on First Quantum Minerals from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a report on Tuesday. Morgan Stanley lifted their price objective on First Quantum Minerals from C$19.40 to C$20.20 in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and increased their target price for the stock from C$19.00 to C$26.00 in a research report on Wednesday, June 26th. Canaccord Genuity Group upped their price objective on shares of First Quantum Minerals from C$22.00 to C$25.00 in a research note on Monday, July 22nd. Finally, Cormark dropped their price objective on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating for the company in a report on Thursday, July 25th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, First Quantum Minerals has a consensus rating of “Hold” and a consensus target price of C$20.59.

First Quantum Minerals Stock Performance

Shares of TSE FM opened at C$17.89 on Wednesday. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$32.28. The company has a market cap of C$14.92 billion, a P/E ratio of -7.04, a P/E/G ratio of -1.28 and a beta of 1.73. The business’s 50 day moving average is C$16.79 and its two-hundred day moving average is C$16.94. 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 earnings results on Tuesday, July 23rd. The company reported C($0.03) earnings per share for the quarter, beating the consensus estimate of C($0.05) by C$0.02. The business had revenue of C$1.68 billion during the quarter, compared to analysts’ expectations of C$1.42 billion. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. On average, equities analysts expect that First Quantum Minerals will post 0.3652482 EPS for the current year.

Insider Activity

In related news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of First Quantum Minerals stock in a transaction on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total transaction of C$264,640.00. In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. Also, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of C$16.54, for a total transaction of C$264,640.00. Insiders own 19.35% of the company’s stock.

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.