First Quantum Minerals (TSE:FM - Get Free Report) was upgraded by analysts at Stifel Nicolaus from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a C$38.00 target price on the stock, up from their prior target price of C$26.00. Stifel Nicolaus' price objective indicates a potential upside of 27.60% from the company's previous close.
Several other research firms have also weighed in on FM. Morgan Stanley lifted their target price on shares of First Quantum Minerals from C$24.60 to C$31.20 in a report on Wednesday, October 8th. Desjardins lifted their price target 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 lifted their price target on shares of First Quantum Minerals from C$28.00 to C$34.00 and gave the company a "sector perform" rating in a research note on Tuesday, October 14th. TD Securities lifted their price target on shares of First Quantum Minerals from C$30.00 to C$35.00 in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised shares of First Quantum Minerals from a "neutral" rating to an "overweight" rating and lifted their price target for the company from C$20.00 to C$42.00 in a research note on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$33.73.
View Our Latest Report on First Quantum Minerals
First Quantum Minerals Stock Performance
Shares of TSE:FM traded down C$1.23 during trading on Tuesday, hitting C$29.78. 1,257,802 shares of the stock traded hands, compared to its average volume of 2,418,852. 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 company has a market cap of C$24.84 billion, a price-to-earnings ratio of 119.12, a P/E/G ratio of -1.28 and a beta of 1.58. The company has a fifty day moving average price of C$27.24 and a two-hundred day moving average price of C$23.11. First Quantum Minerals has a 52-week low of C$14.41 and a 52-week high of C$33.88.
Insider Transactions at First Quantum Minerals
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 transaction of C$185,640.70. 19.35% of the stock is currently owned by company insiders.
First Quantum Minerals Company Profile
(
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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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