TD Securities Forecasts Strong Price Appreciation for First Quantum Minerals (TSE:FM) Stock

First Quantum Minerals (TSE:FM) had its price objective raised by TD Securities from C$34.00 to C$41.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. TD Securities’ target price suggests a potential upside of 0.47% from the stock’s previous close.

Several other brokerages also recently weighed in on FM. Deutsche Bank Aktiengesellschaft downgraded First Quantum Minerals from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$35.00 to C$33.00 in a research report on Wednesday, November 26th. Stifel Nicolaus raised First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$26.00 to C$38.00 in a research report on Tuesday, October 21st. National Bankshares upped their price target on First Quantum Minerals from C$32.00 to C$36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Raymond James Financial increased their price objective on shares of First Quantum Minerals from C$25.00 to C$29.00 in a research report on Friday, October 10th. Finally, Royal Bank Of Canada boosted their target price on shares of First Quantum Minerals from C$35.00 to C$40.00 in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$37.56.

First Quantum Minerals Price Performance

First Quantum Minerals stock opened at C$40.81 on Thursday. The firm has a fifty day moving average of C$35.23 and a 200-day moving average of C$29.68. First Quantum Minerals has a 52-week low of C$14.41 and a 52-week high of C$42.20. 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 capitalization of C$34.04 billion, a P/E ratio of 680.17, a PEG ratio of -1.28 and a beta of 1.37.

First Quantum Minerals (TSE:FM) last posted its earnings results 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 business had revenue of C$1.87 billion for the quarter. As a group, analysts predict that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Buying and Selling at First Quantum Minerals

In related news, Director Charles Kevin Mcarthur purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average price of C$29.06 per share, for a total transaction of C$290,600.00. Following the completion of the purchase, the director owned 35,000 shares in the company, valued at approximately C$1,017,100. This represents a 40.00% increase in their ownership of the stock. Insiders have purchased a total of 10,474 shares of company stock worth $304,575 over the last three months. 19.35% of the stock is currently owned by company insiders.

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.