First Quantum Minerals (TSE:FM) had its price target raised by equities research analysts at Raymond James from C$16.00 to C$17.00 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price target indicates a potential upside of 19.13% from the stock’s current price.
A number of other brokerages have also recently weighed in on FM. Jefferies Financial Group boosted their price target on shares of First Quantum Minerals from C$16.00 to C$18.00 in a research report on Friday, June 19th. Citigroup lifted their price objective on shares of First Quantum Minerals from C$11.00 to C$14.10 in a research note on Tuesday, July 7th. CIBC lifted their price objective on shares of First Quantum Minerals from C$10.00 to C$15.00 in a research note on Wednesday, July 15th. Eight Capital lifted their price objective on shares of First Quantum Minerals from C$15.00 to C$17.00 in a research note on Monday, July 20th. Finally, BMO Capital Markets boosted their price target on shares of First Quantum Minerals from C$14.25 to C$14.75 in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of C$14.53.
Shares of First Quantum Minerals stock traded up C$1.18 during trading on Wednesday, hitting C$14.27. 3,096,743 shares of the stock were exchanged, compared to its average volume of 3,328,288. The stock has a market cap of $9.02 billion and a price-to-earnings ratio of -24.10. The firm’s 50-day moving average price is C$12.40 and its 200 day moving average price is C$9.79. First Quantum Minerals has a 12-month low of C$4.71 and a 12-month high of C$14.27. The company has a debt-to-equity ratio of 95.70, a current ratio of 1.50 and a quick ratio of 0.69.
First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, July 28th. The company reported C($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.24) by C$0.07. The firm had revenue of C$1.41 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. As a group, research analysts forecast that First Quantum Minerals will post 0.38 earnings per share for the current year.
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 seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter 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.
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