First Quantum Minerals (TSE:FM) had its price objective upped by analysts at Morgan Stanley from C$13.00 to C$18.00 in a research report issued on Thursday, BayStreet.CA reports. Morgan Stanley's target price would suggest a potential upside of 53.58% from the stock's current price.
Several other brokerages also recently weighed in on FM. CIBC boosted their target price on First Quantum Minerals from C$10.00 to C$15.00 in a research note on Wednesday, July 15th. Deutsche Bank lifted their price target on First Quantum Minerals from C$9.00 to C$11.00 in a research report on Thursday, June 11th. CSFB lifted their price target on First Quantum Minerals from C$12.00 to C$13.50 in a research report on Thursday, July 30th. Scotiabank boosted their price objective on First Quantum Minerals from C$14.00 to C$15.00 in a report on Tuesday, September 15th. Finally, Jefferies Financial Group boosted their price objective on First Quantum Minerals from C$16.00 to C$18.00 in a report on Friday, June 19th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. First Quantum Minerals presently has a consensus rating of "Buy" and an average price target of C$14.92.
FM traded up C$0.04 during trading on Thursday, hitting C$11.72. 2,783,665 shares of the stock were exchanged, compared to its average volume of 3,405,227. The firm has a 50 day simple moving average of C$12.79 and a 200 day simple moving average of C$9.91. The firm has a market cap of $8.05 billion and a price-to-earnings ratio of -19.85. First Quantum Minerals has a 1 year low of C$4.71 and a 1 year high of C$14.85. The company has a debt-to-equity ratio of 95.70, a quick ratio of 0.69 and a current ratio of 1.50.
First Quantum Minerals (TSE:FM) last released its quarterly earnings data on Tuesday, July 28th. The company reported C($0.17) EPS for the quarter, topping the consensus estimate of C($0.24) by C$0.07. The firm had revenue of C$1.41 billion for the quarter, compared to analysts' expectations of C$1.39 billion. As a group, equities analysts anticipate that First Quantum Minerals will post 0.45 earnings per share for the current fiscal year.
In related news, Senior Officer Wyatt Mckinlay Buck sold 36,087 shares of the company's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of C$14.30, for a total value of C$516,044.10. Following the completion of the transaction, the insider now owns 35,669 shares of the company's stock, valued at approximately C$510,066.70.
About First Quantum Minerals
First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.
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