First Quantum Minerals (TSE:FM) Upgraded at Scotiabank

Scotiabank upgraded shares of First Quantum Minerals (TSE:FM) from a hold rating to an outperform rating in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has C$45.00 price objective on the stock, up from their prior price objective of C$44.00.

Several other brokerages have also commented on FM. Stifel Nicolaus lifted their price target on shares of First Quantum Minerals from C$38.00 to C$47.00 and gave the stock a “buy” rating in a research note on Wednesday. Canadian Imperial Bank of Commerce lifted their target price on First Quantum Minerals from C$36.00 to C$46.00 in a research report on Wednesday, February 4th. Barclays decreased their target price on First Quantum Minerals from C$44.30 to C$44.20 in a research report on Monday, February 2nd. TD Securities raised their price target on First Quantum Minerals from C$34.00 to C$41.00 in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group lifted their price target on First Quantum Minerals from C$38.00 to C$47.00 in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, First Quantum Minerals has a consensus rating of “Moderate Buy” and an average price target of C$41.28.

First Quantum Minerals Price Performance

Shares of TSE FM opened at C$36.22 on Thursday. The stock’s 50-day simple moving average is C$37.76 and its 200-day simple moving average is C$31.32. The firm has a market capitalization of C$30.00 billion, a PE ratio of -1,207.33, a price-to-earnings-growth ratio of -1.28 and a beta of 1.35. First Quantum Minerals has a fifty-two week low of C$14.41 and a fifty-two week high of C$45.17. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C$0.01 EPS for the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. The company had revenue of C$1.95 billion for the quarter. As a group, equities research analysts forecast that First Quantum Minerals will post 0.55872 EPS for the current fiscal year.

First Quantum Minerals Company Profile

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.