First Quantum Minerals (TSE:FM) Upgraded to “Overweight” at Barclays

Barclays upgraded shares of First Quantum Minerals (TSE:FM) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday morning, Marketbeat reports.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research report on Friday, November 8th. Morgan Stanley raised their price objective on First Quantum Minerals from C$19.40 to C$20.20 in a research note on Thursday, September 19th. CIBC lifted their price objective on First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Royal Bank of Canada upped their target price on First Quantum Minerals from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, National Bankshares lifted their price target on First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Quantum Minerals presently has a consensus rating of “Hold” and a consensus target price of C$20.72.

First Quantum Minerals Stock Performance

TSE FM opened at C$17.60 on Tuesday. The stock has a market capitalization of C$14.68 billion, a price-to-earnings ratio of -6.80, a PEG ratio of -1.28 and a beta of 1.73. The business’s 50 day moving average is C$17.69 and its two-hundred day moving average is C$17.41. First Quantum Minerals has a 12-month low of C$9.31 and a 12-month high of C$20.76. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00.

Insider Buying and Selling

In other news, Senior Officer Zenon Wozniak sold 6,323 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total value of C$117,165.19. 19.35% of the stock is currently owned by company insiders.

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.