First Quantum Minerals (TSE:FM) Price Target Raised to C$41.00

First Quantum Minerals (TSE:FM) had its price target raised by Scotiabank from C$35.00 to C$41.00 in a research report sent to investors on Thursday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

A number of other research firms have also weighed in on FM. Stifel Nicolaus upgraded First Quantum Minerals from a “hold” rating to a “buy” rating and raised their target price for the company from C$26.00 to C$38.00 in a report on Tuesday, October 21st. Citigroup increased their price target on First Quantum Minerals from C$26.00 to C$39.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Jefferies Financial Group raised their price objective on First Quantum Minerals from C$33.00 to C$38.00 in a research note on Monday, October 6th. Morgan Stanley upped their target price on shares of First Quantum Minerals from C$30.20 to C$33.50 in a research note on Tuesday, December 16th. Finally, Raymond James Financial increased their target price on shares of First Quantum Minerals from C$25.00 to C$29.00 in a report on Friday, October 10th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, First Quantum Minerals currently has an average rating of “Moderate Buy” and an average price target of C$35.39.

First Quantum Minerals Stock Up 4.4%

First Quantum Minerals stock opened at C$39.63 on Thursday. The firm has a market capitalization of C$33.06 billion, a price-to-earnings ratio of 660.50, a price-to-earnings-growth ratio of -1.28 and a beta of 1.37. The firm’s fifty day moving average price is C$32.96 and its two-hundred day moving average price is C$28.57. First Quantum Minerals has a 1-year low of C$14.41 and a 1-year high of C$40.81. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, October 28th. The company reported C($0.02) earnings per share for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%.The business had revenue of C$1.87 billion during the quarter. On average, equities research analysts predict that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Buying and Selling at First Quantum Minerals

In other news, Director Charles Kevin Mcarthur bought 10,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of C$29.06 per share, for a total transaction of C$290,600.00. Following the completion of the acquisition, the director owned 35,000 shares of the company’s stock, valued at approximately C$1,017,100. This trade represents a 40.00% increase in their ownership of the stock. Insiders purchased a total of 10,474 shares of company stock worth $304,575 over the last ninety days. Corporate 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. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.