Scotiabank Forecasts Strong Price Appreciation for First Quantum Minerals (TSE:FM) Stock

First Quantum Minerals (TSE:FM - Free Report) had its price target raised by Scotiabank from C$22.50 to C$24.00 in a research report sent to investors on Monday,BayStreet.CA reports.

Several other brokerages have also recently weighed in on FM. Desjardins upgraded First Quantum Minerals to a "hold" rating in a research note on Thursday, April 3rd. Barclays raised their price target on shares of First Quantum Minerals from C$21.40 to C$21.60 in a research report on Wednesday, May 7th. BMO Capital Markets upgraded shares of First Quantum Minerals to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley decreased their price objective on shares of First Quantum Minerals from C$19.70 to C$19.40 in a research note on Wednesday, April 9th. Finally, National Bankshares dropped their target price on shares of First Quantum Minerals from C$25.50 to C$24.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$22.28.

First Quantum Minerals Stock Up 1.0%

FM traded up C$0.22 during trading on Monday, hitting C$21.43. 1,403,638 shares of the company's stock were exchanged, compared to its average volume of 2,566,138. First Quantum Minerals has a fifty-two week low of C$13.81 and a fifty-two week high of C$23.28. The stock has a market cap of C$12.16 billion, a P/E ratio of -7.92, a PEG ratio of -1.28 and a beta of 1.73. The business's 50 day moving average is C$19.32 and its two-hundred day moving average is C$19.16. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Director Alison Cheryl Beckett purchased 1,388 shares of First Quantum Minerals stock in a transaction on Monday, March 31st. The shares were acquired at an average cost of C$19.25 per share, for a total transaction of C$26,719.00. 19.35% of the stock is currently owned by company insiders.

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.