First Quantum Minerals (TSE:FM) Given New C$31.20 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has increased the price target for First Quantum Minerals from C$24.60 to C$31.20, indicating a potential downside of 4.50% from the stock's previous close.
• Several analysts have raised their price targets, with the consensus now at C$28.01, while the stock holds an average rating of "Moderate Buy."
• The stock has seen significant trading activity, reaching a high of C$32.76 in the past year, and has a market capitalization of C$27.25 billion.

First Quantum Minerals (TSE:FM - Get Free Report) had its target price boosted by equities researchers at Morgan Stanley from C$24.60 to C$31.20 in a research note issued on Wednesday,BayStreet.CA reports. Morgan Stanley's price objective points to a potential downside of 4.50% from the stock's previous close.

Several other equities analysts have also recently weighed in on the company. National Bankshares lifted their price objective on First Quantum Minerals from C$28.50 to C$29.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Scotiabank boosted their price target on First Quantum Minerals from C$27.00 to C$28.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 6th. Royal Bank Of Canada boosted their price target on First Quantum Minerals from C$28.00 to C$30.00 in a report on Wednesday, September 10th. Stifel Nicolaus boosted their price target on First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a "hold" rating in a report on Wednesday, August 6th. Finally, Desjardins boosted their price target on First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a "hold" rating in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$28.01.

First Quantum Minerals Stock Performance

TSE:FM traded up C$1.25 during mid-day trading on Wednesday, hitting C$32.67. 1,107,432 shares of the stock were exchanged, compared to its average volume of 2,421,236. The stock has a market capitalization of C$27.25 billion, a price-to-earnings ratio of 130.68, a price-to-earnings-growth ratio of -1.28 and a beta of 1.58. 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 firm's 50-day simple moving average is C$25.63 and its 200 day simple moving average is C$22.35. First Quantum Minerals has a fifty-two week low of C$14.41 and a fifty-two week high of C$32.76.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 8,135 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of C$22.82, for a total value of C$185,640.70. Company 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.

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