First Quantum Minerals' (FM) "Outperform" Rating Reaffirmed at CIBC

Last updated on Thursday, July 22, 2021 | 2021 MarketBeat

First Quantum Minerals (TSE:FM)'s stock had its "outperform" rating reaffirmed by equities research analysts at CIBC in a report issued on Thursday, Stock Target Advisor reports. They presently have a C$38.50 price target on the stock. CIBC's price target suggests a potential upside of 59.49% from the stock's previous close.

Several other research firms have also issued reports on FM. National Bank Financial cut their target price on First Quantum Minerals to C$38.50 and set a "na" rating on the stock in a research note on Friday, July 16th. Royal Bank of Canada reissued an "outperform" rating and issued a C$36.00 price target on shares of First Quantum Minerals in a report on Wednesday, April 28th. Scotiabank raised their price target on First Quantum Minerals from C$34.00 to C$40.00 in a report on Monday, July 12th. Eight Capital raised their price target on First Quantum Minerals from C$31.00 to C$34.00 and gave the stock a "na" rating in a report on Tuesday, April 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on First Quantum Minerals from C$33.00 to C$31.00 and set a "hold" rating for the company in a report on Tuesday, June 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of "Hold" and an average price target of C$33.47.

Shares of FM stock traded up C$0.43 during mid-day trading on Thursday, hitting C$24.14. The stock had a trading volume of 1,285,777 shares, compared to its average volume of 2,417,654. First Quantum Minerals has a 12-month low of C$11.21 and a 12-month high of C$35.07. The firm has a market capitalization of C$16.67 billion and a price-to-earnings ratio of 550.00. The stock has a 50-day moving average of C$27.95. The company has a quick ratio of 0.70, a current ratio of 1.26 and a debt-to-equity ratio of 93.62.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, April 27th. The company reported C$0.27 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of C$0.24 by C$0.03. The firm had revenue of C$2.13 billion during the quarter, compared to analysts' expectations of C$2 billion. Sell-side analysts predict that First Quantum Minerals will post 2.5700002 earnings per share for the current fiscal year.

In related news, Director Peter St. George sold 125,000 shares of the business's stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of C$33.76, for a total transaction of C$4,219,525.00. Following the completion of the sale, the director now directly owns 387,885 shares in the company, valued at C$13,093,523.64. Also, Director Philip K.R. Pascall sold 98,413 shares of the business's stock in a transaction that occurred on Tuesday, June 15th. The stock was sold at an average price of C$26.40, for a total value of C$2,597,817.80. Following the sale, the director now owns 5,872,725 shares of the company's stock, valued at C$155,022,909.10. Insiders sold 298,413 shares of company stock valued at $9,107,093 over the last 90 days.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, gold, silver, and zinc ores, as well as produces acid. The company holds 100% interests in the Ravensthorpe nickel and cobalt mine in Australia; the Sentinel copper project in North Western Province of Zambia; the Las Cruces copper mine in Spain; the Guelb Moghrein copper-gold mine in Mauritania; the Pyhäsalmi copper, pyrite, zinc mine in Finland; and the Ãayeli copper-zinc mine in Turkey.

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