First Quantum Minerals (TSE:FM) Upgraded to Strong-Buy at Stifel Canada

Key Points

• First Quantum Minerals has been upgraded to a Strong-Buy rating by Stifel Canada, indicating increased investor confidence.
• Multiple analysts have raised their price targets for the company's stock, with a consensus rating of Moderate Buy and an average price target of C$33.73.
• Despite the upgrade, First Quantum Minerals' stock recently experienced a decline of 3.8%, trading at C$29.82.

First Quantum Minerals (TSE:FM - Get Free Report) was upgraded by Stifel Canada from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts also recently weighed in on FM. Royal Bank Of Canada raised their price objective on First Quantum Minerals from C$28.00 to C$30.00 in a research note on Wednesday, September 10th. CIBC upped their target price on First Quantum Minerals from C$26.00 to C$36.00 in a report on Friday, October 10th. Jefferies Financial Group lifted their price target on First Quantum Minerals from C$33.00 to C$38.00 in a research note on Monday, October 6th. Stifel Nicolaus raised shares of First Quantum Minerals from a "hold" rating to a "buy" rating and increased their price objective for the company from C$26.00 to C$38.00 in a research note on Tuesday. Finally, TD Securities raised their target price on shares of First Quantum Minerals from C$30.00 to C$35.00 in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, First Quantum Minerals presently has a consensus rating of "Moderate Buy" and an average price target of C$33.73.

First Quantum Minerals Stock Down 3.8%

FM stock opened at C$29.82 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The company's 50-day moving average price is C$27.36 and its 200 day moving average price is C$23.15. First Quantum Minerals has a 52 week low of C$14.41 and a 52 week high of C$33.88. The company has a market cap of C$24.88 billion, a P/E ratio of 119.28, a P/E/G 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 that occurred 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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