First Quantum Minerals (TSE:FM) Given New C$26.00 Price Target at Stifel Nicolaus

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 price objective boosted by Stifel Nicolaus from C$25.00 to C$26.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 9.43% from the company's previous close.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada upped their target price on First Quantum Minerals from C$24.00 to C$25.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Barclays raised their target price 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. Morgan Stanley reduced their target price on First Quantum Minerals from C$19.70 to C$19.40 in a research note on Wednesday, April 9th. National Bankshares raised their target price on First Quantum Minerals from C$24.00 to C$27.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, BMO Capital Markets raised shares of First Quantum Minerals to a "strong-buy" rating in a research report on Tuesday, April 15th. Seven investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$22.99.

First Quantum Minerals Stock Performance

Shares of First Quantum Minerals stock traded up C$0.60 during midday trading on Wednesday, hitting C$23.76. The company had a trading volume of 1,447,224 shares, compared to its average volume of 2,482,896. The stock has a market cap of C$13.49 billion, a price-to-earnings ratio of -8.78, a PEG ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 12-month low of C$13.81 and a 12-month 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 company has a fifty day simple moving average of C$22.89 and a 200 day simple moving average of C$20.26.

Insider Buying and Selling

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 8,135 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of C$22.82, for a total value of C$185,640.70. Also, Director Alison Cheryl Beckett acquired 1,029 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were bought at an average cost of C$24.59 per share, for a total transaction of C$25,307.84. 19.35% of the stock is 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.