First Quantum Minerals (TSE:FM) Raised to “Outperform” at Scotiabank

First Quantum Minerals (TSE:FM) was upgraded by analysts at Scotiabank from a “hold” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm currently has a C$45.00 price objective on the stock, up from their previous price objective of C$44.00. Scotiabank’s target price suggests a potential upside of 24.24% from the stock’s previous close.

Several other analysts have also commented on FM. TD Securities raised their price target on shares of First Quantum Minerals from C$34.00 to C$41.00 in a research report on Thursday, January 22nd. National Bank Financial increased their target price on shares of First Quantum Minerals from C$42.50 to C$47.00 in a research note on Thursday, January 29th. Stifel Nicolaus raised their target price on First Quantum Minerals from C$38.00 to C$47.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank Of Canada upped their price target on First Quantum Minerals from C$35.00 to C$40.00 in a report on Wednesday, December 10th. Finally, Desjardins raised their price objective on First Quantum Minerals from C$34.00 to C$40.00 and gave the company a “hold” rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$41.28.

First Quantum Minerals Stock Down 1.0%

First Quantum Minerals stock opened at C$36.22 on Thursday. The business’s 50-day moving average price is C$37.76 and its 200 day moving average price is C$31.26. 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 firm has a market cap of C$30.00 billion, a price-to-earnings ratio of -1,207.33, a price-to-earnings-growth ratio of -1.28 and a beta of 1.35. First Quantum Minerals has a 52 week low of C$14.41 and a 52 week high of C$45.17.

First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, February 10th. The company reported C$0.01 EPS for the quarter. The business had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. As a group, sell-side analysts anticipate 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.