First Quantum Minerals (FM) Price Target Raised to C$23.00 at Royal Bank of Canada

First Quantum Minerals (TSE:FM) had its price objective hoisted by equities researchers at Royal Bank of Canada from C$21.00 to C$23.00 in a research note issued on Wednesday. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 9.32% from the company’s current price.

FM has been the topic of a number of other research reports. CIBC decreased their price target on shares of First Quantum Minerals from C$15.50 to C$15.00 in a report on Wednesday, November 1st. Raymond James Financial lifted their price target on shares of First Quantum Minerals from C$16.00 to C$18.00 in a report on Monday, October 23rd. Scotiabank reiterated an “outperform” rating and issued a C$17.00 price target on shares of First Quantum Minerals in a report on Monday, October 30th. Barclays lifted their price target on shares of First Quantum Minerals from C$12.65 to C$15.10 in a report on Tuesday, October 24th. Finally, National Bank Financial decreased their price target on shares of First Quantum Minerals from C$17.00 to C$16.50 and set a “sector perform” rating on the stock in a report on Friday, October 27th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of C$20.87.

First Quantum Minerals (FM) traded up C$0.82 during mid-day trading on Wednesday, reaching C$21.04. 4,283,832 shares of the company’s stock traded hands, compared to its average volume of 3,241,334. The stock has a market cap of $14,410.00, a PE ratio of -36.02 and a beta of 3.02. First Quantum Minerals has a 12-month low of C$9.69 and a 12-month high of C$21.20.

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About First Quantum Minerals

First Quantum Minerals Ltd. is engaged in the production of copper, nickel, gold, zinc and acid, and related activities, including exploration and development. The Company’s segments include individual mine development projects or mine operations and the Corporate & other segment. The Corporate & other segment is responsible for the evaluation and acquisition of mineral properties, regulatory reporting, treasury and finance and corporate administration.

Analyst Recommendations for First Quantum Minerals (TSE:FM)

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