First Quantum Minerals (TSE:FM) Given New C$23.00 Price Target at Royal Bank of Canada

First Quantum Minerals (TSE:FM) had its price objective lifted by Royal Bank of Canada from C$22.00 to C$23.00 in a report published on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their target price on First Quantum Minerals from C$18.00 to C$20.00 in a report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on First Quantum Minerals from C$19.50 to C$23.00 in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their price target for the company from C$19.00 to C$26.00 in a report on Wednesday, June 26th. Eight Capital boosted their price objective on shares of First Quantum Minerals from C$17.00 to C$22.00 in a research note on Thursday, July 11th. Finally, CIBC boosted their price objective on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$20.83.

First Quantum Minerals Stock Down 0.5 %

Shares of TSE:FM opened at C$18.51 on Thursday. The firm’s 50 day moving average price is C$17.15 and its 200 day moving average price is C$17.14. The stock has a market cap of C$15.44 billion, a price-to-earnings ratio of -7.15, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week high of C$30.68. 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 announced its quarterly earnings results on Tuesday, July 23rd. The company reported C($0.03) EPS for the quarter, beating the consensus estimate of C($0.05) by C$0.02. The company had revenue of C$1.68 billion for the quarter, compared to analyst estimates 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%. As a group, equities research analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Activity

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