First Quantum Minerals (TSE:FM) Raised to Hold at Desjardins

Desjardins upgraded shares of First Quantum Minerals (TSE:FM) to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

FM has been the topic of several other research reports. Morgan Stanley boosted their price objective on First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Jefferies Financial Group cut their price target on shares of First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. Raymond James increased their price target on shares of First Quantum Minerals from C$20.00 to C$21.00 in a research report on Friday. Royal Bank of Canada lifted their price objective on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Finally, Barclays reduced their target price on shares of First Quantum Minerals from C$25.00 to C$23.40 in a research report on Thursday, January 30th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$21.57.

First Quantum Minerals Stock Down 11.6 %

FM opened at C$16.00 on Thursday. First Quantum Minerals has a fifty-two week low of C$13.81 and a fifty-two week high of C$23.28. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. The company’s 50-day moving average is C$19.20 and its 200 day moving average is C$18.75. The firm has a market capitalization of C$9.08 billion, a P/E ratio of -5.91, a PEG ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, topping the consensus estimate of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same quarter in the previous year, the company posted ($0.37) EPS. Research analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total value of C$844,400.00. Also, Director Alison Cheryl Beckett purchased 1,388 shares of the business’s stock in a transaction on Monday, March 31st. The stock was purchased at an average cost of C$19.25 per share, with a total value of C$26,719.00. Corporate insiders own 19.35% of the company’s stock.

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.