First Quantum Minerals (TSE:FM) Price Target Raised to C$17.00

First Quantum Minerals (TSE:FM) had its price objective boosted by Eight Capital from C$16.00 to C$17.00 in a report issued on Monday morning, BayStreet.CA reports. Eight Capital currently has a neutral rating on the stock.

Several other analysts have also recently issued reports on FM. National Bankshares raised First Quantum Minerals from a sector perform rating to an outperform rating and raised their target price for the stock from C$15.00 to C$16.50 in a research note on Friday, March 1st. Citigroup reduced their target price on First Quantum Minerals from C$32.00 to C$14.00 and set a neutral rating on the stock in a research note on Wednesday, January 10th. TD Securities raised their price target on 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. National Bank Financial upgraded shares of First Quantum Minerals from a sec perform spec market wgt rating to an outperform spec market weight rating in a report on Thursday, February 29th. Finally, Scotiabank decreased their price objective on shares of First Quantum Minerals from C$14.50 to C$13.00 and set a sector perform rating for the company in a report on Thursday, February 22nd. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of C$16.85.

First Quantum Minerals Stock Performance

TSE:FM opened at C$15.94 on Monday. The company has a market capitalization of C$13.29 billion, a price-to-earnings ratio of -8.52, a PEG ratio of -1.28 and a beta of 2.01. The business has a 50 day moving average of C$14.10 and a 200 day moving average of C$15.08. The company has a debt-to-equity ratio of 81.21, a current ratio of 1.72 and a quick ratio of 1.41. First Quantum Minerals has a 1-year low of C$9.31 and a 1-year high of C$39.13.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, February 20th. The company reported C($0.50) EPS 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 business had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.58 billion. On average, sell-side analysts predict that First Quantum Minerals will post 0.7906736 earnings per share for the current fiscal 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.