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

Key Points

• Stifel Nicolaus has raised its price target for First Quantum Minerals (TSE:FM) from C$25.00 to C$26.00, reflecting a potential upside of 13.94% from the last close.
• Currently, the stock has a consensus rating of "Moderate Buy" among analysts, with multiple firms increasing their price objectives recently.
• As of the latest trading session, First Quantum Minerals shares traded down C$0.52, reaching C$22.82, with a market capitalization of C$12.95 billion.

First Quantum Minerals (TSE:FM - Get Free Report) had its target price increased by Stifel Nicolaus from C$25.00 to C$26.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' price target indicates a potential upside of 10.12% from the company's current price.

Other analysts have also issued research reports about the stock. TD Securities dropped their price target on shares of First Quantum Minerals from C$25.00 to C$24.00 and set a "hold" rating on the stock in a research report on Friday, July 25th. National Bankshares raised their price objective on shares of First Quantum Minerals from C$24.00 to C$27.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada upped 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 report on Wednesday, June 4th. Morgan Stanley lowered their target price on shares of First Quantum Minerals from C$19.70 to C$19.40 in a research note on Wednesday, April 9th. Finally, Scotiabank boosted their target price on First Quantum Minerals from C$22.50 to C$24.00 in a report on Monday, June 16th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$22.99.

First Quantum Minerals Stock Up 1.9%

FM stock traded up C$0.45 during trading on Wednesday, hitting C$23.61. 526,875 shares of the company's stock traded hands, compared to its average volume of 2,476,629. The firm has a market capitalization of C$13.40 billion, a P/E 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 company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The business has a fifty day simple moving average of C$22.82 and a two-hundred day simple moving average of C$20.21.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Director Alison Cheryl Beckett acquired 1,029 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was acquired 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 stock in a transaction on Friday, August 1st. The shares were sold at an average price of C$22.82, for a total value of C$185,640.70. 19.35% of the stock is currently owned by corporate 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.