First Quantum Minerals (TSE:FM) Price Target Raised to C$36.00

Key Points

• First Quantum Minerals' price target has been raised by CIBC from C$26.00 to C$36.00, indicating a potential upside of 12.92% from its current stock price.
• Other analysts also have adjusted their price targets, with National Bankshares and Jefferies Financial Group both setting targets at C$36.00 and C$38.00 respectively, suggesting strong confidence in the company's performance.
• Currently, First Quantum Minerals holds a consensus rating of "Moderate Buy" with an average price target of C$32.09, supported by a variety of buy ratings from different analysts.

First Quantum Minerals (TSE:FM - Get Free Report) had its price target upped by research analysts at CIBC from C$26.00 to C$36.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC's price target suggests a potential upside of 12.92% from the stock's current price.

A number of other analysts also recently weighed in on FM. National Bankshares increased their price target on shares of First Quantum Minerals from C$32.00 to C$36.00 and gave the company an "outperform" rating in a research report on Wednesday. Scotiabank lifted their price objective on shares of First Quantum Minerals from C$27.00 to C$28.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. Barclays lifted their price objective on shares of First Quantum Minerals from C$27.30 to C$38.00 in a report on Friday. Jefferies Financial Group raised their target price on shares of First Quantum Minerals from C$33.00 to C$38.00 in a research note on Monday. Finally, Morgan Stanley raised their target price on shares of First Quantum Minerals from C$24.60 to C$31.20 in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$32.09.

First Quantum Minerals Price Performance

TSE:FM traded down C$0.65 during mid-day trading on Friday, reaching C$31.88. 1,122,382 shares of the company were exchanged, compared to its average volume of 2,416,084. The stock has a market cap of C$26.59 billion, a PE ratio of 127.52, a PEG ratio of -1.28 and a beta of 1.58. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. First Quantum Minerals has a 12 month low of C$14.41 and a 12 month high of C$33.88. The company has a fifty day moving average of C$26.01 and a 200 day moving average of C$22.48.

Insider Activity

In other news, Senior Officer Zenon Wozniak sold 8,135 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of C$22.82, for a total value of C$185,640.70. 19.35% of the stock is 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.

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