Barclays Issues Positive Forecast for First Quantum Minerals (TSE:FM) Stock Price

Key Points

• Barclays has raised its price target for First Quantum Minerals from C$25.80 to C$26.00, maintaining a "buy" rating, indicating a potential upside of 10.40% from the current stock price.
• Multiple brokerages have adjusted their ratings and price targets for First Quantum Minerals, with National Bankshares increasing its target to C$27.50 while Morgan Stanley lowered its target to C$19.40.
• Director Alison Cheryl Beckett has purchased 1,029 shares of First Quantum Minerals at an average price of C$24.59, signaling insider confidence in the company's prospects.

First Quantum Minerals (TSE:FM - Get Free Report) had its price target lifted by equities research analysts at Barclays from C$25.80 to C$26.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Barclays's target price would suggest a potential upside of 14.24% from the stock's previous close.

FM has been the topic of several other reports. TD Securities cut their price objective on First Quantum Minerals from C$25.00 to C$24.00 and set a "hold" rating on the stock in a research report on Friday, July 25th. National Bankshares lifted their price objective on First Quantum Minerals from C$24.00 to C$27.50 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Desjardins raised First Quantum Minerals to a "hold" rating in a research report on Thursday, April 3rd. BMO Capital Markets raised First Quantum Minerals to a "strong-buy" rating in a research report on Tuesday, April 15th. Finally, Canaccord Genuity Group raised First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, First Quantum Minerals presently has a consensus rating of "Moderate Buy" and an average price target of C$22.35.

First Quantum Minerals Trading Down 2.3%

Shares of TSE FM traded down C$0.53 during trading hours on Monday, hitting C$22.76. The company's stock had a trading volume of 363,454 shares, compared to its average volume of 2,478,443. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The stock has a market cap of C$12.92 billion, a price-to-earnings ratio of -8.41, a P/E/G ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 12 month low of C$13.81 and a 12 month high of C$25.96. The business has a 50-day simple moving average of C$22.61 and a 200-day simple moving average of C$20.09.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Director Alison Cheryl Beckett purchased 1,029 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was purchased at an average price of C$24.59 per share, with a total value of C$25,307.84. Insiders own 19.35% of the company's stock.

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.