First Quantum Minerals (TSE:FM) Price Target Cut to C$17.00 by Analysts at JPMorgan Chase & Co.

First Quantum Minerals (TSE:FM) had its target price lowered by JPMorgan Chase & Co. from C$18.00 to C$17.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

Several other analysts also recently issued reports on FM. Royal Bank of Canada increased their price objective on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Scotiabank lowered their price objective on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group reduced their target price on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday, January 6th. Canaccord Genuity Group cut First Quantum Minerals from a “buy” rating to a “hold” rating and reduced their target price for the company from C$24.00 to C$20.00 in a research note on Thursday, January 16th. Finally, Morgan Stanley increased their target price on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$21.13.

First Quantum Minerals Stock Down 2.6 %

FM opened at C$18.66 on Monday. The firm has a 50 day moving average price of C$19.10 and a 200 day moving average price of C$17.97. The company has a market cap of C$15.56 billion, a PE ratio of -7.20, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 1 year low of C$10.91 and a 1 year high of C$21.45. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, October 22nd. The company reported C$0.19 earnings per share (EPS) for the quarter. First Quantum Minerals had a negative net margin of 24.07% and a negative return on equity of 14.87%. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Sell-side analysts expect that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Simon John Scott purchased 1,397 shares of First Quantum Minerals stock in a transaction dated Tuesday, December 31st. The stock was acquired at an average cost of C$18.57 per share, for a total transaction of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of First Quantum Minerals stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total value of C$914,400.00. 19.35% of the stock is owned by corporate insiders.

First Quantum Minerals Company Profile

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.