First Quantum Minerals (TSE:FM) Price Target Raised to C$8.50

First Quantum Minerals (TSE:FM) had its price objective lifted by stock analysts at BMO Capital Markets from C$7.50 to C$8.50 in a report released on Wednesday, BayStreet.CA reports. BMO Capital Markets’ target price points to a potential downside of 47.17% from the company’s current price.

FM has been the topic of several other research reports. CIBC dropped their price objective on First Quantum Minerals from C$15.00 to C$14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Canaccord Genuity Group upped their price objective on First Quantum Minerals from C$17.00 to C$21.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Jefferies Financial Group upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and increased their target price for the stock from C$13.00 to C$18.00 in a research report on Thursday, February 22nd. Royal Bank of Canada upgraded First Quantum Minerals from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$17.00 to C$18.00 in a research report on Monday, March 4th. Finally, Morgan Stanley increased their target price on First Quantum Minerals from C$17.00 to C$18.90 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, First Quantum Minerals currently has an average rating of “Hold” and an average target price of C$16.02.

First Quantum Minerals Price Performance

First Quantum Minerals stock opened at C$16.09 on Wednesday. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$39.13. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 81.21. The business’s 50 day simple moving average is C$13.70 and its 200 day simple moving average is C$15.57. The company has a market cap of C$13.41 billion, a price-to-earnings ratio of -8.60, a PEG ratio of -1.28 and a beta of 2.01.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing the consensus estimate of C($0.10) by C($0.40). First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%. The firm had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.58 billion. Sell-side analysts forecast that First Quantum Minerals will post 0.7906736 EPS for the current year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.