First Quantum Minerals (TSE:FM) Price Target Raised to C$28.00 at Scotiabank

Key Points

• Scotiabank has raised its price target for First Quantum Minerals from C$27.00 to C$28.00, suggesting a potential upside of 22.70% from the current stock price.
• Multiple analysts have recently adjusted their ratings, with the consensus rating for First Quantum Minerals classified as a "Moderate Buy" and a consensus price target of C$22.99.
• The company’s shares recently traded down by 2.2%, with a current price of C$22.82, while it has a market capitalization of C$12.95 billion and a debt-to-equity ratio of 56.41.

First Quantum Minerals (TSE:FM - Free Report) had its price objective increased by Scotiabank from C$27.00 to C$28.00 in a research report released on Wednesday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other analysts also recently issued reports about the stock. Stifel Nicolaus boosted their target price 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. National Bankshares lifted their price target on shares of First Quantum Minerals from C$24.00 to C$27.50 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Raymond James Financial raised shares of First Quantum Minerals to a "hold" rating in a research report on Monday, June 30th. BMO Capital Markets upgraded shares of First Quantum Minerals to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Barclays increased their price objective on First Quantum Minerals from C$25.80 to C$26.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Seven 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 data from MarketBeat, First Quantum Minerals presently has an average rating of "Moderate Buy" and an average price target of C$22.99.

First Quantum Minerals Price Performance

TSE:FM traded up C$0.45 during mid-day trading on Wednesday, reaching C$23.61. 526,875 shares of the stock were exchanged, compared to its average volume of 2,476,629. The firm has a market capitalization of C$13.40 billion, a PE ratio of -8.73, a PEG ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 1-year low of C$13.81 and a 1-year high of C$25.96. The business has a fifty day moving average price of C$22.82 and a 200 day moving average price of C$20.21. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Director Alison Cheryl Beckett bought 1,029 shares of the stock in a transaction on Wednesday, July 2nd. The stock was purchased at an average price 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 dated Friday, August 1st. The stock was sold at an average price of C$22.82, for a total value of C$185,640.70. Corporate 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.