First Quantum Minerals (TSE:FM) PT Lowered to C$21.50

First Quantum Minerals (TSE:FM) had its price target reduced by Canaccord Genuity Group from C$22.00 to C$21.50 in a report issued on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 17.68% from the stock’s current price.

A number of other brokerages have also recently weighed in on FM. UBS Group set a C$16.00 price objective on First Quantum Minerals and gave the company a “neutral” rating in a report on Tuesday, January 16th. Barclays lifted their price objective on First Quantum Minerals from C$13.00 to C$16.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Jefferies Financial Group cut their price objective on First Quantum Minerals from C$20.00 to C$19.50 and set a “buy” rating on the stock in a research report on Wednesday. CIBC lifted their price target on First Quantum Minerals from C$14.00 to C$15.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Finally, Scotiabank dropped their price target on First Quantum Minerals from C$14.50 to C$13.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 22nd. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$16.96.

First Quantum Minerals Stock Performance

Shares of FM opened at C$18.27 on Thursday. The stock has a market capitalization of C$15.23 billion, a price-to-earnings ratio of -9.77, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72. The stock’s 50-day simple moving average is C$14.31 and its 200 day simple moving average is C$15.00. First Quantum Minerals has a 52-week low of C$9.31 and a 52-week high of C$39.13.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). The business had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.58 billion. First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. Research analysts forecast that First Quantum Minerals will post 0.7906736 EPS for the current fiscal year.

About First Quantum Minerals

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.