Jefferies Financial Group Raises First Quantum Minerals (TSE:FM) Price Target to C$47.00

First Quantum Minerals (TSE:FM) had its target price increased by research analysts at Jefferies Financial Group from C$38.00 to C$47.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target suggests a potential upside of 15.48% from the company’s previous close.

A number of other brokerages also recently issued reports on FM. 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. TD Securities boosted their target price on First Quantum Minerals from C$30.00 to C$35.00 in a research report on Tuesday, October 21st. Raymond James Financial raised their price target on shares of First Quantum Minerals from C$25.00 to C$29.00 in a report on Friday, October 10th. Stifel Canada upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Finally, JPMorgan Chase & Co. raised shares of First Quantum Minerals from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from C$20.00 to C$42.00 in a report on Friday, October 10th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$35.99.

First Quantum Minerals Stock Performance

Shares of FM stock opened at C$40.70 on Monday. The company has a market capitalization of C$33.95 billion, a price-to-earnings ratio of 678.33, a price-to-earnings-growth ratio of -1.28 and a beta of 1.37. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. First Quantum Minerals has a one year low of C$14.41 and a one year high of C$41.20. The company’s 50-day moving average is C$33.47 and its 200 day moving average is C$28.85.

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

Insider Activity

In other First Quantum Minerals news, Director Charles Kevin Mcarthur bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average cost of C$29.06 per share, for a total transaction of C$290,600.00. Following the completion of the transaction, the director owned 35,000 shares of the company’s stock, valued at C$1,017,100. This represents a 40.00% increase in their position. Insiders have purchased a total of 10,474 shares of company stock valued at $304,575 over the last quarter. Company insiders own 19.35% of the company’s stock.

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. 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.