First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Key Points

• Jefferies Financial Group has raised the price target for First Quantum Minerals from C$33.00 to C$38.00, indicating a potential upside of 19.23% based on the stock's previous close.
• Multiple analysts have increased their price targets for First Quantum, with ratings ranging from "Strong Buy" to "Hold," reflecting a positive sentiment towards the stock.
• The stock has recently traded at C$31.87, with a 52-week range between C$14.41 and C$32.76, showing strong performance within the year.

First Quantum Minerals (TSE:FM - Get Free Report) had its price target increased by analysts at Jefferies Financial Group from C$33.00 to C$38.00 in a research report issued on Monday,BayStreet.CA reports. Jefferies Financial Group's price target points to a potential upside of 19.23% from the company's previous close.

Several other equities analysts have also issued reports on FM. TD Securities boosted their price target on First Quantum Minerals from C$25.00 to C$30.00 and gave the company a "hold" rating in a research note on Monday, September 29th. Stifel Nicolaus raised their target price 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. Scotiabank boosted their price target 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. Royal Bank Of Canada raised their price objective on shares of First Quantum Minerals from C$28.00 to C$30.00 in a report on Wednesday, September 10th. Finally, Desjardins lifted their target price on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the company a "hold" rating in a research report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, First Quantum Minerals has an average rating of "Moderate Buy" and an average target price of C$25.72.

First Quantum Minerals Stock Performance

First Quantum Minerals stock traded down C$0.47 during mid-day trading on Monday, reaching C$31.87. The company had a trading volume of 918,723 shares, compared to its average volume of 2,426,177. The company has a 50 day moving average of C$25.31 and a 200-day moving average of C$22.22. First Quantum Minerals has a 52 week low of C$14.41 and a 52 week high of C$32.76. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The firm has a market cap of C$26.59 billion, a price-to-earnings ratio of 127.48, a PEG ratio of -1.28 and a beta of 1.58.

Insider Activity

In related news, Senior Officer Zenon Wozniak sold 8,135 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of C$22.82, for a total transaction 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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