National Bankshares Issues Positive Forecast for First Quantum Minerals (TSE:FM) Stock Price

Key Points

• National Bankshares raised the target price for First Quantum Minerals (TSE:FM) from C$28.50 to C$29.00, indicating a potential upside of 22.16% from the current price.
• The average rating for First Quantum Minerals is currently "Moderate Buy" with a consensus price target of C$23.12 based on multiple analysts' assessments.
• First Quantum Minerals shares recently hit C$23.74, with a 52-week trading range between C$13.81 and C$25.96.

First Quantum Minerals (TSE:FM - Get Free Report) had its target price boosted by stock analysts at National Bankshares from C$28.50 to C$29.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bankshares' target price would indicate a potential upside of 22.16% from the company's current price.

Several other research firms have also recently weighed in on FM. Stifel Nicolaus increased their price objective on shares of First Quantum Minerals from C$25.00 to C$26.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. TD Securities decreased their price objective on shares of First Quantum Minerals from C$25.00 to C$24.00 and set a "hold" rating for the company in a research report on Friday, July 25th. Royal Bank Of Canada increased their price objective on shares of First Quantum Minerals from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Canaccord Genuity Group upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 16th. Finally, BMO Capital Markets upgraded shares of First Quantum Minerals to a "strong-buy" rating in a research report on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$23.12.

First Quantum Minerals Trading Up 0.3%

Shares of FM traded up C$0.06 during trading hours on Wednesday, hitting C$23.74. 1,074,629 shares of the stock were exchanged, compared to its average volume of 2,467,811. First Quantum Minerals has a fifty-two week low of C$13.81 and a fifty-two week high of C$25.96. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. The business has a 50-day moving average of C$23.00 and a 200-day moving average of C$20.32. The firm has a market capitalization of C$13.47 billion, a P/E ratio of -8.77, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

Insiders Place Their Bets

In other First Quantum Minerals news, Director Alison Cheryl Beckett acquired 1,029 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were purchased at an average cost 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 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. 19.35% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.