First Quantum Minerals (TSE:FM) Price Target Raised to C$30.00

Key Points

• First Quantum Minerals experienced a target price increase from C$28.00 to C$30.00 by Royal Bank Of Canada, indicating a potential upside of 18.02% based on its current stock price.
• In addition to RBC, other analysts have also raised their price targets for the company, with Desjardins and Scotiabank adjusting their targets to C$26.00 and C$28.00, respectively.
• Insider activity includes Director Alison Cheryl Beckett purchasing shares at C$24.59, while Senior Officer Zenon Wozniak sold shares at C$22.82, with insiders currently holding 19.35% of the stock.

First Quantum Minerals (TSE:FM - Get Free Report) had its target price raised by stock analysts at Royal Bank Of Canada from C$28.00 to C$30.00 in a report issued on Wednesday,BayStreet.CA reports. Royal Bank Of Canada's target price would indicate a potential upside of 18.02% from the company's current price.

FM has been the subject of several other research reports. Desjardins raised their price objective on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the company a "hold" rating in a research note on Wednesday, August 20th. Scotiabank raised their price objective on shares of 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. Barclays raised their price objective on shares of First Quantum Minerals from C$25.80 to C$26.00 and gave the stock a "buy" rating in a report on Monday, July 28th. TD Securities decreased their price objective on First Quantum Minerals from C$25.00 to C$24.00 and set a "hold" rating for the company in a research report on Friday, July 25th. Finally, National Bankshares boosted their price objective on shares of First Quantum Minerals from C$28.50 to C$29.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Quantum Minerals presently has an average rating of "Moderate Buy" and a consensus price target of C$24.03.

First Quantum Minerals Trading Up 0.2%

Shares of FM traded up C$0.04 during mid-day trading on Wednesday, reaching C$25.42. The stock had a trading volume of 1,020,508 shares, compared to its average volume of 2,385,589. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. First Quantum Minerals has a 52-week low of C$14.41 and a 52-week high of C$25.96. The business's fifty day moving average is C$23.70 and its 200 day moving average is C$21.00. The firm has a market cap of C$21.21 billion, a price-to-earnings ratio of 101.68, a P/E/G ratio of -1.28 and a beta of 1.29.

Insiders Place Their Bets

In other news, Director Alison Cheryl Beckett acquired 1,029 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was purchased at an average cost of C$24.59 per share, with a total value of C$25,307.84. Also, Senior Officer Zenon Wozniak sold 8,135 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of C$22.82, for a total value of C$185,640.70. 19.35% of the stock is currently owned by company 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.

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