First Quantum Minerals (TSE:FM) Price Target Raised to C$21.00

First Quantum Minerals (TSE:FM) had its price objective hoisted by Raymond James from C$20.00 to C$21.00 in a report released on Friday morning,BayStreet.CA reports.

A number of other equities research analysts have also weighed in on the company. Stifel Canada raised First Quantum Minerals to a “hold” rating in a report on Wednesday, March 19th. Jefferies Financial Group dropped their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. Morgan Stanley raised their target price 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. Canaccord Genuity Group cut shares of First Quantum Minerals from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$24.00 to C$20.00 in a research note on Thursday, January 16th. 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. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$21.57.

First Quantum Minerals Stock Down 11.6 %

FM stock opened at C$16.00 on Friday. The company has a market cap of C$9.08 billion, a price-to-earnings ratio of -5.91, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The company has a fifty day moving average price of C$19.20 and a 200 day moving average price of C$18.78. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. First Quantum Minerals has a 12 month low of C$13.81 and a 12 month high of C$23.28.

First Quantum Minerals (TSE:FM) last released its earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same period last year, the company earned ($0.37) EPS. Sell-side analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Activity

In other First Quantum Minerals news, Director Charles Kevin Mcarthur acquired 25,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of C$17.23 per share, with a total value of C$430,842.13. Also, Director Alison Cheryl Beckett bought 1,388 shares of First Quantum Minerals stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average price of C$19.25 per share, for a total transaction of C$26,719.00. Company 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.