First Quantum Minerals (TSE:FM) Price Target Increased to C$22.00 by Analysts at Canaccord Genuity Group

First Quantum Minerals (TSE:FM) had its price objective boosted by Canaccord Genuity Group from C$21.00 to C$22.00 in a research note issued to investors on Wednesday, BayStreet.CA reports.

Several other equities analysts also recently issued reports on the company. UBS Group set a C$16.00 price objective on First Quantum Minerals and gave the company a neutral rating in a research report on Tuesday, January 16th. CIBC cut their price objective on First Quantum Minerals from C$15.00 to C$14.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Bank of America lifted their price objective on First Quantum Minerals from C$16.00 to C$17.00 in a research report on Tuesday, April 9th. Morgan Stanley lifted their price objective on First Quantum Minerals from C$17.00 to C$18.90 and gave the company an overweight rating in a research report on Thursday, March 28th. Finally, National Bankshares upgraded First Quantum Minerals from a sector perform rating to an outperform rating and boosted their price target for the company from C$15.00 to C$16.50 in a report on Friday, March 1st. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, First Quantum Minerals currently has an average rating of Hold and a consensus target price of C$16.02.

First Quantum Minerals Price Performance

First Quantum Minerals stock opened at C$14.78 on Wednesday. The company has a debt-to-equity ratio of 81.21, a current ratio of 1.72 and a quick ratio of 1.41. The company has a market capitalization of C$12.32 billion, a PE ratio of -7.90, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$39.13. The business has a 50 day simple moving average of C$13.65 and a 200 day simple moving average of C$15.58.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing the consensus estimate of C($0.10) by C($0.40). The company had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.58 billion. First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. On average, sell-side analysts forecast that First Quantum Minerals will post 0.7906736 EPS for the current fiscal year.

About First Quantum Minerals

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.