First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

First Quantum Minerals (TSE:FM - Get Free Report) had its price objective increased by analysts at Royal Bank of Canada from C$24.00 to C$25.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective would indicate a potential upside of 16.71% from the company's current price.

A number of other equities analysts also recently weighed in on the company. Desjardins upgraded First Quantum Minerals to a "hold" rating in a report on Thursday, April 3rd. Canaccord Genuity Group upgraded First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 16th. National Bankshares dropped their target price on First Quantum Minerals from C$25.50 to C$24.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Barclays upped their target price on First Quantum Minerals from C$21.40 to C$21.60 in a report on Wednesday, May 7th. Finally, TD Securities upped their target price on First Quantum Minerals from C$19.00 to C$20.00 and gave the company a "hold" rating in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$22.13.

First Quantum Minerals Trading Up 1.9%

TSE FM traded up C$0.39 on Wednesday, hitting C$21.42. 2,019,901 shares of the company were exchanged, compared to its average volume of 2,628,278. The company's 50 day moving average price is C$18.65 and its 200-day moving average price is C$19.02. 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 firm has a market capitalization of C$12.16 billion, a P/E ratio of -7.92, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a twelve month low of C$13.81 and a twelve month high of C$23.28.

Insiders Place Their Bets

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of C$21.11, for a total transaction of C$844,400.00. Also, Director Alison Cheryl Beckett bought 1,388 shares of the firm's stock in a transaction on Monday, March 31st. The shares were bought at an average cost of C$19.25 per share, with a total value of C$26,719.00. 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.