CIBC Boosts First Quantum Minerals (TSE:FM) Price Target to C$46.00

First Quantum Minerals (TSE:FM) had its price objective hoisted by CIBC from C$36.00 to C$46.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 29.29% from the company’s current price.

A number of other research analysts have also weighed in on FM. National Bankshares increased their price target on First Quantum Minerals from C$42.50 to C$47.00 in a research note on Thursday, January 29th. Morgan Stanley upped their target price on First Quantum Minerals from C$33.50 to C$36.70 in a research note on Tuesday. Citigroup increased their target price on First Quantum Minerals from C$26.00 to C$39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. TD Securities lifted their price target on First Quantum Minerals from C$34.00 to C$41.00 in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada upped their price objective on shares of 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 given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, First Quantum Minerals currently has a consensus rating of “Moderate Buy” and an average price target of C$40.28.

First Quantum Minerals Price Performance

First Quantum Minerals stock opened at C$35.58 on Wednesday. The stock has a market capitalization of C$29.68 billion, a P/E ratio of 593.00, a P/E/G ratio of -1.28 and a beta of 1.35. First Quantum Minerals has a 12-month low of C$14.41 and a 12-month high of C$45.17. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. The firm’s 50-day moving average is C$37.14 and its two-hundred day moving average is C$30.70.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data 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 firm had revenue of C$1.87 billion during the quarter. Equities analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current year.

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.