First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, National Bankshares Analyst Says

Key Points

• National Bankshares has raised the price target for First Quantum Minerals from C$32.00 to C$36.00, indicating a potential upside of 10.19% from its current stock price of C$32.67.
• Other analysts have also increased their price targets recently, with the average target price now sitting at C$28.01 and the stock currently holding a "Moderate Buy" rating.
• First Quantum Minerals' shares increased by 4.0% on Wednesday, reflecting positive market sentiment towards the stock amidst rising analyst ratings and price targets.

First Quantum Minerals (TSE:FM - Get Free Report) had its price target lifted by analysts at National Bankshares from C$32.00 to C$36.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bankshares' target price would indicate a potential upside of 10.19% from the company's current price.

A number of other equities research analysts also recently commented on the stock. Desjardins increased 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 report on Wednesday, August 20th. Raymond James Financial increased their target price on shares of First Quantum Minerals from C$23.00 to C$25.00 in a research report on Thursday, August 21st. Morgan Stanley increased their target price on shares of First Quantum Minerals from C$24.60 to C$31.20 in a research report on Wednesday. Royal Bank Of Canada increased their target price on shares of First Quantum Minerals from C$28.00 to C$30.00 in a research report on Wednesday, September 10th. Finally, Stifel Nicolaus increased 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 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$28.01.

First Quantum Minerals Stock Up 4.0%

Shares of TSE:FM traded up C$1.25 during trading hours on Wednesday, reaching C$32.67. The stock had a trading volume of 1,107,432 shares, compared to its average volume of 2,421,236. First Quantum Minerals has a 1 year low of C$14.41 and a 1 year high of C$32.76. The firm's 50 day moving average is C$25.63 and its 200-day moving average is C$22.35. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The stock has a market capitalization of C$27.25 billion, a price-to-earnings ratio of 130.68, a P/E/G ratio of -1.28 and a beta of 1.58.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 8,135 shares of the firm's stock in a transaction on Friday, August 1st. The shares were 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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