Scotiabank Initiates Coverage on First Quantum Minerals Limited (FM)
Investment analysts at Scotiabank assumed coverage on shares of First Quantum Minerals Limited (TSE:FM) in a note issued to investors on Thursday, Stock Ratings Network.com reports. The firm set an “outperform” rating and a C$21.00 price target on the stock. Scotiabank’s price objective would indicate a potential upside of 6.54% from the stock’s previous close.
A number of other analysts have also recently weighed in on FM. Analysts at Haywood Securities cut their price target on shares of First Quantum Minerals Limited from C$21.50 to C$20.50 in a research note to investors on Tuesday, October 22nd. Separately, analysts at Canaccord Genuity raised their price target on shares of First Quantum Minerals Limited from C$18.00 to C$19.50 in a research note to investors on Friday, October 11th. They now have a “hold” rating on the stock. Finally, analysts at BMO Capital Markets initiated coverage on shares of First Quantum Minerals Limited in a research note to investors on Wednesday, September 11th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of C$22.35.
First Quantum Minerals Limited (TSE:FM) traded down 0.35% on Thursday, hitting $19.71. The stock had a trading volume of 1,772,968 shares. First Quantum Minerals Limited has a one year low of $14.22 and a one year high of $23.83. The stock has a 50-day moving average of $18.87 and a 200-day moving average of $17.73. The company has a market cap of $11.571 billion and a price-to-earnings ratio of 20.95.
First Quantum Minerals Ltd. (TSE:FM) is a mineral exploration, development and mining company.
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