First Quantum Minerals (TSE:FM) Price Target Raised to C$24.00 at Scotiabank

First Quantum Minerals (TSE:FM) had its target price hoisted by Scotiabank from C$22.50 to C$24.00 in a report released on Monday morning,BayStreet.CA reports.

Several other equities research analysts also recently commented on FM. Stifel Canada upgraded shares of First Quantum Minerals to a “hold” rating in a research note on Wednesday, March 19th. National Bankshares reduced their target price on First Quantum Minerals from C$25.50 to C$24.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Morgan Stanley dropped their price target on First Quantum Minerals from C$19.70 to C$19.40 in a research note on Wednesday, April 9th. Barclays increased their price objective on First Quantum Minerals from C$21.40 to C$21.60 in a report on Wednesday, May 7th. Finally, Raymond James lifted their target price on First Quantum Minerals from C$20.00 to C$21.00 in a report on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Moderate Buy” and a consensus target price of C$22.28.

First Quantum Minerals Stock Up 2.0%

FM stock opened at C$21.46 on Monday. The stock has a market capitalization of C$12.18 billion, a PE ratio of -7.93, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 52 week low of C$13.81 and a 52 week high of C$23.28. 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 50 day moving average of C$19.24 and a 200 day moving average of C$19.14.

Insider Buying and Selling at First Quantum Minerals

In other news, Director Alison Cheryl Beckett acquired 1,388 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was acquired at an average price of C$19.25 per share, for a total transaction of C$26,719.00. 19.35% of the stock is currently 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.