First Quantum Minerals (TSE:FM) Price Target Raised to C$33.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group raised its price target for First Quantum Minerals from C$28.00 to C$33.00, indicating a potential upside of 5.06% from the current stock price.
• Other brokerages have also increased their price targets, with Royal Bank of Canada setting a target at C$30.00 and Raymond James at C$25.00.
• First Quantum Minerals' stock recently traded at C$31.41, reflecting a strong market performance with a trading volume significantly above its average.

First Quantum Minerals (TSE:FM - Get Free Report) had its price objective raised by research analysts at Jefferies Financial Group from C$28.00 to C$33.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's price objective would suggest a potential upside of 5.06% from the company's current price.

FM has been the topic of a number of other research reports. Royal Bank Of Canada lifted their price objective on First Quantum Minerals from C$28.00 to C$30.00 in a research note on Wednesday, September 10th. Raymond James Financial increased their price objective on First Quantum Minerals from C$23.00 to C$25.00 in a report on Thursday, August 21st. National Bankshares raised their target price on First Quantum Minerals from C$28.50 to C$29.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. TD Securities raised their target price on First Quantum Minerals from C$25.00 to C$30.00 and gave the company a "hold" rating in a research report on Monday. Finally, Barclays lifted their target price on First Quantum Minerals from C$25.80 to C$26.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$25.34.

First Quantum Minerals Stock Performance

Shares of TSE FM traded up C$2.29 during trading on Monday, hitting C$31.41. The company had a trading volume of 2,378,019 shares, compared to its average volume of 2,436,564. The stock has a 50 day simple moving average of C$24.54 and a 200 day simple moving average of C$21.87. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. First Quantum Minerals has a 12 month low of C$14.41 and a 12 month high of C$31.60. The firm has a market capitalization of C$26.20 billion, a P/E ratio of 125.64, a price-to-earnings-growth ratio of -1.28 and a beta of 1.29.

Insider Buying and Selling at First Quantum Minerals

In other news, Director Alison Cheryl Beckett bought 1,029 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were acquired 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 stock in a transaction on Friday, August 1st. The shares were 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.

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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