First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

First Quantum Minerals (TSE:FM) had its target price raised by Royal Bank of Canada from C$23.00 to C$24.00 in a report released on Wednesday morning,BayStreet.CA reports.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their target price on First Quantum Minerals from C$20.00 to C$18.00 in a research report on Friday, November 8th. Barclays upgraded shares of First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. Morgan Stanley raised their price target on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Scotiabank upped their price objective on shares of First Quantum Minerals from C$18.50 to C$23.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, CIBC lifted their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$21.05.

First Quantum Minerals Price Performance

Shares of TSE FM opened at C$19.93 on Wednesday. The stock has a market cap of C$16.62 billion, a price-to-earnings ratio of -7.69, a PEG ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35. First Quantum Minerals has a fifty-two week low of C$10.91 and a fifty-two week high of C$21.45. The firm’s 50-day simple moving average is C$18.88 and its 200 day simple moving average is C$17.77.

Insiders Place Their Bets

In related news, Director Simon John Scott purchased 1,397 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was purchased at an average cost of C$18.57 per share, with a total value of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$20.32, for a total value of C$914,400.00. Company insiders own 19.35% of the company’s stock.

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.