First Quantum Minerals (TSE:FM) Raised to “Strong-Buy” at Canaccord Genuity Group

First Quantum Minerals (TSE:FM) was upgraded by analysts at Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on FM. Barclays dropped their price objective on First Quantum Minerals from C$25.00 to C$23.40 in a research report on Thursday, January 30th. BMO Capital Markets raised First Quantum Minerals to a “strong-buy” rating in a research note on Tuesday. Jefferies Financial Group dropped their target price on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. Scotiabank reduced their price target on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Finally, TD Securities raised their target price on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$21.77.

First Quantum Minerals Stock Down 1.0 %

First Quantum Minerals stock opened at C$16.56 on Wednesday. The stock’s 50 day moving average price is C$18.63 and its 200 day moving average price is C$18.74. First Quantum Minerals has a 1-year low of C$13.81 and a 1-year high of C$23.28. The company has a market cap of C$9.40 billion, a PE ratio of -6.12, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. 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 (TSE:FM) last announced its quarterly earnings data on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, beating the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same period in the previous year, the business earned ($0.37) earnings per share. On average, sell-side analysts predict that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total value of C$844,400.00. Also, Director Alison Cheryl Beckett acquired 1,388 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were purchased at an average cost 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 is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.