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

Key Points

• Raymond James Financial has raised its price target for First Quantum Minerals from C$25.00 to C$29.00, indicating a potential downside of 9.03% from the current price.
• Other brokerages have also increased their target prices, with JPMorgan raising it to C$42.00, while CIBC and National Bankshares set new targets of C$36.00.
• The stock currently has a consensus rating of "Moderate Buy" with an average target price of C$32.09, reflecting positive sentiment among analysts.

First Quantum Minerals (TSE:FM - Get Free Report) had its price target upped by stock analysts at Raymond James Financial from C$25.00 to C$29.00 in a research report issued on Friday,BayStreet.CA reports. Raymond James Financial's target price would suggest a potential downside of 9.03% from the company's current price.

A number of other brokerages have also weighed in on FM. JPMorgan Chase & Co. raised shares of First Quantum Minerals from a "neutral" rating to an "overweight" rating and upped their target price for the stock from C$20.00 to C$42.00 in a research note on Friday. Stifel Nicolaus raised 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 note on Wednesday, August 6th. National Bankshares raised their target price on shares of First Quantum Minerals from C$32.00 to C$36.00 and gave the company an "outperform" rating in a research note on Wednesday. CIBC raised their price objective on shares of First Quantum Minerals from C$26.00 to C$36.00 in a research report on Friday. Finally, Morgan Stanley raised their price objective on shares of First Quantum Minerals from C$24.60 to C$31.20 in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$32.09.

First Quantum Minerals Trading Down 2.0%

FM stock traded down C$0.65 during trading on Friday, hitting C$31.88. The company had a trading volume of 1,122,382 shares, compared to its average volume of 2,416,084. The firm has a 50-day moving average price of C$26.01 and a 200-day moving average price of C$22.48. The stock has a market cap of C$26.59 billion, a price-to-earnings ratio of 127.52, a PEG ratio of -1.28 and a beta of 1.58. 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 quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

Insiders Place Their Bets

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 8,135 shares of First Quantum Minerals 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.

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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