First Quantum Minerals (TSE:FM) Shares Down 2.2% on Analyst Downgrade

First Quantum Minerals Ltd. (TSE:FM) shares fell 2.2% during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from C$19.70 to C$19.40. The company traded as low as C$14.46 and last traded at C$14.72. 1,602,292 shares traded hands during trading, a decline of 38% from the average session volume of 2,604,265 shares. The stock had previously closed at C$15.05.

Other equities research analysts have also issued reports about the stock. Stifel Canada raised shares of First Quantum Minerals to a “hold” rating in a report on Wednesday, March 19th. Jefferies Financial Group lowered their target price on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. Raymond James boosted their price target on First Quantum Minerals from C$20.00 to C$21.00 in a research note on Friday, April 4th. TD Securities increased their price target on First Quantum Minerals from C$19.00 to C$20.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Finally, Desjardins upgraded First Quantum Minerals to a “hold” rating in a report on Thursday, April 3rd. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, First Quantum Minerals has a consensus rating of “Hold” and an average target price of C$21.68.

Insider Buying and Selling at First Quantum Minerals

In related news, Director Charles Kevin Mcarthur bought 25,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of C$17.23 per share, for a total transaction of C$430,842.13. Also, Senior Officer Zenon Wozniak sold 40,000 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total transaction of C$844,400.00. 19.35% of the stock is currently owned by insiders.

First Quantum Minerals Trading Up 12.6 %

The firm has a 50-day moving average of C$18.97 and a 200 day moving average of C$18.77. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The stock has a market capitalization of C$9.62 billion, a price-to-earnings ratio of -6.26, a PEG ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same quarter last year, the business earned ($0.37) EPS. As a group, equities analysts predict that First Quantum Minerals Ltd. will post 0.55872 EPS for the current fiscal 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.