First Quantum Minerals (TSE:FM) Upgraded to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of First Quantum Minerals (TSE:FM) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other research analysts also recently weighed in on FM. Raymond James upped their price target on shares of First Quantum Minerals from C$20.00 to C$21.00 in a research report on Friday, April 4th. Jefferies Financial Group lowered their price target on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. BMO Capital Markets upgraded First Quantum Minerals to a “strong-buy” rating in a report on Tuesday. Scotiabank dropped their target price on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Finally, TD Securities raised their price target on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Moderate Buy” and an average price target of C$21.77.

First Quantum Minerals Stock Performance

TSE FM opened at C$16.56 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. First Quantum Minerals has a twelve month low of C$13.81 and a twelve month high of C$23.28. The stock has a 50-day moving average of C$18.63 and a 200 day moving average of C$18.74. The stock has a market capitalization of C$9.40 billion, a price-to-earnings ratio of -6.12, a PEG ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (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 posted ($0.37) EPS. Sell-side analysts anticipate that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 price of C$17.23 per share, with a total value of C$430,842.13. Also, Director Alison Cheryl Beckett purchased 1,388 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were purchased at an average price of C$19.25 per share, for a total transaction of C$26,719.00. 19.35% of the stock is owned by insiders.

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.