First Quantum Minerals Ltd. (FQVLF) Stock Rating Lowered by Dundee Securities
First Quantum Minerals Ltd. (OTCMKTS:FQVLF) was downgraded by investment analysts at Dundee Securities from a “buy” rating to a “neutral” rating in a report released on Monday. They presently have a $13.00 price objective on the stock, down from their previous price objective of $14.00. Dundee Securities’ target price would indicate a potential upside of 60.49% from the company’s previous close.
A number of other analysts have also issued reports on the stock. Goldman Sachs Group Inc. reiterated a “sell” rating and set a $5.50 price objective (up previously from $5.00) on shares of First Quantum Minerals in a research note on Friday, July 15th. Credit Suisse Group AG upgraded shares of First Quantum Minerals from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $10.00 to $13.00 in a research note on Thursday, July 28th. TD Securities upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $13.50 in a research note on Friday, July 22nd. Jefferies Group restated a “buy” rating and issued a $14.00 price target on shares of First Quantum Minerals in a research note on Wednesday, August 24th. Finally, Cormark upgraded shares of First Quantum Minerals from a “market perform” rating to a “buy” rating in a research note on Wednesday, August 3rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. First Quantum Minerals has an average rating of “Buy” and an average target price of $10.78.
Shares of First Quantum Minerals (OTCMKTS:FQVLF) traded up 1.19% during mid-day trading on Monday, reaching $8.10. 7,153 shares of the company were exchanged. The company’s 50-day moving average is $8.03 and its 200 day moving average is $7.49. First Quantum Minerals has a 12 month low of $1.53 and a 12 month high of $9.66. The firm’s market capitalization is $5.55 billion.
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