Barclays Forecasts Strong Price Appreciation for First Quantum Minerals (TSE:FM) Stock

First Quantum Minerals (TSE:FM) had its target price raised by research analysts at Barclays from C$38.00 to C$44.30 in a research note issued on Thursday,BayStreet.CA reports. Barclays‘s price target would indicate a potential upside of 11.78% from the company’s previous close.

FM has been the subject of a number of other reports. Morgan Stanley boosted their target price on First Quantum Minerals from C$30.20 to C$33.50 in a research report on Tuesday, December 16th. Scotiabank raised their price objective on First Quantum Minerals from C$35.00 to C$41.00 and gave the company a “sector perform” rating in a research note on Thursday. TD Securities upped their target price on First Quantum Minerals from C$30.00 to C$35.00 in a research report on Tuesday, October 21st. 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$20.00 to C$42.00 in a report on Friday, October 10th. Finally, CIBC boosted their price target on shares of First Quantum Minerals from C$26.00 to C$36.00 in a research note on Friday, October 10th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$35.39.

First Quantum Minerals Stock Up 4.4%

First Quantum Minerals stock opened at C$39.63 on Thursday. The company has a market capitalization of C$33.06 billion, a PE ratio of 660.50, a PEG ratio of -1.28 and a beta of 1.37. First Quantum Minerals has a 12-month low of C$14.41 and a 12-month high of C$40.81. The firm’s fifty day moving average is C$32.96 and its 200 day moving average is C$28.52. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Tuesday, October 28th. The company reported C($0.02) earnings per share for the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. The company had revenue of C$1.87 billion during the quarter. As a group, sell-side analysts predict that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insider Activity

In related news, Director Charles Kevin Mcarthur bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of C$29.06 per share, with a total value of C$290,600.00. Following the completion of the transaction, the director directly owned 35,000 shares in the company, valued at approximately C$1,017,100. This represents a 40.00% increase in their ownership of the stock. Insiders purchased a total of 10,474 shares of company stock worth $304,575 over the last 90 days. 19.35% of the stock is owned by insiders.

About First Quantum Minerals

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. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.