TD Securities Issues Pessimistic Forecast for First Quantum Minerals (TSE:FM) Stock Price

Key Points

• TD Securities has lowered its target price for First Quantum Minerals from C$25.00 to C$24.00, maintaining a "hold" rating for the stock.
• Other analysts have mixed views, with Desjardins upgrading the stock to a "hold" while Morgan Stanley reduced their target price.
• As of midday trading, First Quantum Minerals shares were down 0.8%, trading at C$23.76, with a market capitalization of C$13.49 billion.
• Insider activity has been noted, as Director Alison Cheryl Beckett purchased 1,029 shares recently, indicating confidence in the stock.

First Quantum Minerals (TSE:FM - Get Free Report) had its target price dropped by equities researchers at TD Securities from C$25.00 to C$24.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. TD Securities' target price points to a potential upside of 1.01% from the company's current price.

Other analysts have also issued research reports about the stock. Desjardins upgraded shares of First Quantum Minerals to a "hold" rating in a research note on Thursday, April 3rd. Morgan Stanley dropped their price target on shares of First Quantum Minerals from C$19.70 to C$19.40 in a research note on Wednesday, April 9th. Royal Bank Of Canada lifted their price target on shares of First Quantum Minerals from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Raymond James Financial upgraded shares of First Quantum Minerals to a "hold" rating in a research note on Monday, June 30th. Finally, Canaccord Genuity Group upgraded shares of First Quantum Minerals from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, First Quantum Minerals has an average rating of "Moderate Buy" and an average price target of C$22.43.

First Quantum Minerals Trading Down 0.8%

FM stock traded down C$0.18 during midday trading on Friday, reaching C$23.76. 1,410,630 shares of the company's stock traded hands, compared to its average volume of 2,510,501. The company has a market capitalization of C$13.49 billion, a P/E ratio of -8.78, a PEG ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. First Quantum Minerals has a fifty-two week low of C$13.81 and a fifty-two week high of C$25.96. The business has a 50-day moving average price of C$22.24 and a two-hundred day moving average price of C$19.97.

Insider Activity at First Quantum Minerals

In other news, Director Alison Cheryl Beckett purchased 1,029 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was acquired at an average price of C$24.59 per share, with a total value of C$25,307.84. 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.

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