First Quantum Minerals (FM) Downgraded to “Neutral” at Goldman Sachs Group

First Quantum Minerals (TSE:FM) was downgraded by analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. upgraded First Quantum Minerals from a “neutral” rating to an “overweight” rating and increased their target price for the stock from C$15.20 to C$16.00 in a research report on Monday, November 19th. Raymond James dropped their target price on First Quantum Minerals from C$24.00 to C$23.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 31st. CIBC upgraded First Quantum Minerals from a “neutral” rating to an “outperform” rating and set a C$16.00 target price on the stock in a research report on Monday, January 21st. Jefferies Financial Group dropped their target price on First Quantum Minerals from C$25.00 to C$18.00 in a research report on Wednesday, December 12th. Finally, BMO Capital Markets restated an “outperform” rating and set a C$20.00 target price on shares of First Quantum Minerals in a research report on Wednesday, January 9th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of C$19.41.

Shares of TSE:FM traded up C$0.12 during trading on Tuesday, hitting C$13.84. 1,183,980 shares of the company were exchanged, compared to its average volume of 3,406,729. The company has a market cap of $9.46 billion and a P/E ratio of 76.46. First Quantum Minerals has a 52-week low of C$9.45 and a 52-week high of C$23.05. The company has a debt-to-equity ratio of 69.74, a current ratio of 2.12 and a quick ratio of 1.18.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates in seven mines and one copper smelter, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.

Further Reading: Quiet Period Expirations

Analyst Recommendations for First Quantum Minerals (TSE:FM)

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