First Quantum Minerals (TSE:FM) Price Target Raised to C$39.00

Key Points

• Investment analysts at Citigroup have raised the price target for First Quantum Minerals from C$26.00 to C$39.00, suggesting a potential upside of 19.38% from the current price.
• The company has received various upgrades from other analysts, with price targets ranging from C$24.60 to C$36.00, while currently holding a consensus rating of "Moderate Buy".
• As of the latest trading session, First Quantum Minerals' stock is performing strongly, recently trading at C$32.67 and showing a significant trading volume of over 1 million shares.

First Quantum Minerals (TSE:FM - Get Free Report) had its price objective increased by investment analysts at Citigroup from C$26.00 to C$39.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target would indicate a potential upside of 19.38% from the company's current price.

Other research analysts have also recently issued research reports about the company. Morgan Stanley increased their price objective on First Quantum Minerals from C$24.60 to C$31.20 in a research report on Wednesday. Stifel Nicolaus raised their price target on First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada raised their price target on First Quantum Minerals from C$28.00 to C$30.00 in a research report on Wednesday, September 10th. National Bankshares raised their price target on First Quantum Minerals from C$32.00 to C$36.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Raymond James Financial raised their price target on First Quantum Minerals from C$23.00 to C$25.00 in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of "Moderate Buy" and a consensus price target of C$28.01.

First Quantum Minerals Stock Performance

FM stock traded up C$1.25 during trading hours 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 company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The firm has a market capitalization of C$27.25 billion, a P/E ratio of 130.68, a P/E/G ratio of -1.28 and a beta of 1.58. The company has a 50-day simple moving average of C$25.63 and a two-hundred day simple moving average of C$22.35. First Quantum Minerals has a 12 month low of C$14.41 and a 12 month high of C$32.76.

Insider Activity at First Quantum Minerals

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