National Bankshares Cuts First Quantum Minerals (TSE:FM) Price Target to C$24.00

First Quantum Minerals (TSE:FM) had its price target cut by National Bankshares from C$25.50 to C$24.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

FM has been the subject of several other research reports. Morgan Stanley decreased their price target on First Quantum Minerals from C$19.70 to C$19.40 in a report on Wednesday, April 9th. Canaccord Genuity Group lowered shares of First Quantum Minerals from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$24.00 to C$20.00 in a research note on Thursday, January 16th. Royal Bank of Canada raised their price target on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Desjardins raised shares of First Quantum Minerals to a “hold” rating in a research report on Thursday, April 3rd. Finally, Barclays dropped 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. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$21.77.

First Quantum Minerals Price Performance

Shares of 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. The firm’s 50-day moving average price is C$18.63 and its 200-day moving average price is C$18.74. The firm has a market capitalization of C$9.40 billion, a P/E ratio of -6.12, a P/E/G ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 1-year low of C$13.81 and a 1-year high of C$23.28.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share for the quarter, topping 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 in the prior year, the company posted ($0.37) EPS. Equities research analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Activity at First Quantum Minerals

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

First Quantum Minerals Company Profile

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.