Scotiabank Has Lowered Expectations for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM) had its price objective lowered by analysts at Scotiabank from C$22.00 to C$21.50 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 14.73% from the stock’s previous close.

A number of other research firms have also commented on FM. Barclays raised First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. Jefferies Financial Group cut their price target on First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. Morgan Stanley boosted their price objective on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. National Bankshares lifted their price target on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada raised their price objective on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$20.93.

First Quantum Minerals Price Performance

First Quantum Minerals stock traded down C$0.73 during mid-day trading on Thursday, reaching C$18.74. 1,225,979 shares of the company were exchanged, compared to its average volume of 1,781,570. The company has a fifty day simple moving average of C$19.06 and a 200-day simple moving average of C$17.88. The firm has a market cap of C$15.63 billion, a PE ratio of -7.24, a PEG ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41. First Quantum Minerals has a 12 month low of C$10.91 and a 12 month high of C$21.45.

Insider Activity

In other First Quantum Minerals news, Director Simon John Scott purchased 1,397 shares of the stock in a transaction on Tuesday, December 31st. The stock was acquired at an average cost of C$18.57 per share, with a total value of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. Corporate insiders own 19.35% of the company’s stock.

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.