First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

First Quantum Minerals (TSE:FM) had its price objective hoisted by research analysts at Morgan Stanley from C$30.20 to C$33.50 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Morgan Stanley’s price target indicates a potential downside of 1.03% from the company’s current price.

Several other analysts have also issued reports on FM. National Bankshares raised their price target on shares of First Quantum Minerals from C$32.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada increased their target price on shares of First Quantum Minerals from C$35.00 to C$40.00 in a research note on Wednesday, December 10th. Stifel Nicolaus raised First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$26.00 to C$38.00 in a research report on Tuesday, October 21st. Citigroup upped their price target on First Quantum Minerals from C$26.00 to C$39.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upgraded First Quantum Minerals from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from C$20.00 to C$42.00 in a research report on Friday, October 10th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$34.57.

First Quantum Minerals Stock Performance

FM opened at C$33.85 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The stock’s 50 day moving average price is C$30.87 and its two-hundred day moving average price is C$26.70. The firm has a market capitalization of C$28.24 billion, a P/E ratio of 564.17, a price-to-earnings-growth ratio of -1.28 and a beta of 1.43. First Quantum Minerals has a 12-month low of C$14.41 and a 12-month high of C$34.84.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, October 28th. The company reported C($0.02) EPS for the quarter. The business had revenue of C$1.87 billion for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. On average, equities analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Director Charles Kevin Mcarthur bought 10,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of C$29.06 per share, for a total transaction of C$290,600.00. Following the purchase, the director directly owned 35,000 shares of the company’s stock, valued at approximately C$1,017,100. This represents a 40.00% increase in their ownership of the stock. In the last quarter, insiders purchased 10,474 shares of company stock valued at $304,575. 19.35% of the stock is owned by insiders.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.