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

Key Points

• TD Securities raised its price target for First Quantum Minerals from C$25.00 to C$30.00, indicating a potential downside of 4.49% from the stock's previous close, while maintaining a "hold" rating.
• The stock traded up C$2.29 to C$31.41 on Monday, with a significant 50-day moving average of C$24.54 and a 200-day moving average of C$21.87.
• Currently, First Quantum Minerals has a consensus rating of "Moderate Buy" from analysts, with two Strong Buy ratings, four Buy ratings, and seven Hold ratings assigned to the stock.

First Quantum Minerals (TSE:FM - Get Free Report) had its price objective increased by research analysts at TD Securities from C$25.00 to C$30.00 in a report released on Monday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD Securities' target price would indicate a potential downside of 4.49% from the stock's previous close.

Other equities research analysts have also issued research reports about 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 note on Wednesday, August 20th. Scotiabank raised their price objective on shares of First Quantum Minerals from C$27.00 to C$28.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 6th. Stifel Nicolaus increased their target price on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Barclays raised their price objective on shares of First Quantum Minerals from C$25.80 to C$26.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, Raymond James Financial lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, First Quantum Minerals currently has a consensus rating of "Moderate Buy" and a consensus target price of C$25.34.

First Quantum Minerals Price Performance

FM traded up C$2.29 during trading on Monday, hitting C$31.41. 2,378,019 shares of the stock traded hands, compared to its average volume of 2,436,564. The business has a 50 day moving average price of C$24.54 and a 200 day moving average price of C$21.87. The company has a market cap of C$26.20 billion, a price-to-earnings ratio of 125.64, a PEG ratio of -1.28 and a beta of 1.29. First Quantum Minerals has a twelve month low of C$14.41 and a twelve month high of C$31.60. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41.

Insiders Place Their Bets

In other news, Director Alison Cheryl Beckett purchased 1,029 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were purchased at an average price of C$24.59 per share, with a total value of C$25,307.84. Also, Senior Officer Zenon Wozniak sold 8,135 shares of the business's 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. Company 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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