CIBC Increases First Quantum Minerals (TSE:FM) Price Target to C$15.00

First Quantum Minerals (TSE:FM) had its price objective hoisted by equities research analysts at CIBC from C$14.00 to C$15.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price objective suggests a potential downside of 6.77% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Jefferies Financial Group upgraded shares of First Quantum Minerals from a “hold” rating to a “buy” rating and raised their price target for the stock from C$13.00 to C$18.00 in a research note on Thursday, February 22nd. Morgan Stanley raised their price target on shares of First Quantum Minerals from C$17.00 to C$18.90 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. TD Securities raised their price target on shares of First Quantum Minerals from C$14.50 to C$15.50 and gave the stock a “hold” rating in a research note on Monday, March 4th. Royal Bank of Canada upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$17.00 to C$18.00 in a research note on Monday, March 4th. Finally, BMO Capital Markets raised their price target on shares of First Quantum Minerals from C$7.50 to C$8.50 in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of “Hold” and a consensus target price of C$16.02.

First Quantum Minerals Stock Up 8.9 %

FM stock opened at C$16.09 on Wednesday. First Quantum Minerals has a twelve month low of C$9.31 and a twelve month high of C$39.13. The company has a market cap of C$13.41 billion, a PE ratio of -8.60, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The business’s 50-day simple moving average is C$13.70 and its 200 day simple moving average is C$15.57. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 81.21.

First Quantum Minerals (TSE:FM) last released its earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The firm had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.58 billion. On average, research analysts anticipate that First Quantum Minerals will post 0.7906736 earnings per share for the current year.

About First Quantum Minerals

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.