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

First Quantum Minerals (TSE:FM) had its price objective raised by stock analysts at Desjardins from C$34.00 to C$40.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ price objective indicates a potential downside of 4.56% from the company’s previous close.

A number of other analysts have also recently weighed in on FM. National Bankshares upped their target price on shares of First Quantum Minerals from C$32.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price objective on First Quantum Minerals from C$38.00 to C$47.00 in a research note on Monday, January 12th. Stifel Nicolaus upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and raised their target price for the stock from C$26.00 to C$38.00 in a research report on Tuesday, October 21st. Raymond James Financial upped their price target on First Quantum Minerals from C$25.00 to C$29.00 in a research report on Friday, October 10th. Finally, Royal Bank Of Canada increased their price objective on First Quantum Minerals from C$35.00 to C$40.00 in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$38.56.

First Quantum Minerals Stock Performance

FM opened at C$41.91 on Monday. The stock’s 50 day simple moving average is C$35.74 and its 200-day simple moving average is C$30.01. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The stock has a market cap of C$34.96 billion, a PE ratio of 698.50, a P/E/G ratio of -1.28 and a beta of 1.37. First Quantum Minerals has a 1 year low of C$14.41 and a 1 year high of C$42.48.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, October 28th. The company reported C($0.02) 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 forecast that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Director Charles Kevin Mcarthur acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average price of C$29.06 per share, with a total value of C$290,600.00. Following the purchase, 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. In the last three months, insiders have acquired 10,474 shares of company stock valued at $304,575. 19.35% of the stock is owned by corporate 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.