Barclays Issues Pessimistic Forecast for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM) had its price target reduced by equities research analysts at Barclays from C$25.00 to C$23.40 in a research note issued on Thursday,BayStreet.CA reports. Barclays‘s target price would suggest a potential upside of 22.26% from the stock’s current price.

A number of other brokerages have also recently weighed in on FM. Morgan Stanley lifted their price target on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Royal Bank of Canada raised their price target on First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Canaccord Genuity Group lowered First Quantum Minerals from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$24.00 to C$20.00 in a research report on Thursday, January 16th. Scotiabank dropped their target price on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Finally, CIBC upped their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$21.47.

First Quantum Minerals Trading Up 5.5 %

Shares of First Quantum Minerals stock traded up C$1.00 on Thursday, hitting C$19.14. 988,137 shares of the company’s stock traded hands, compared to its average volume of 1,848,725. The firm’s 50-day moving average price is C$19.12 and its two-hundred day moving average price is C$17.98. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41. The stock has a market capitalization of C$15.96 billion, a PE ratio of -7.39, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a one year low of C$10.91 and a one year high of C$21.45.

Insider Activity

In other news, Director Simon John Scott acquired 1,397 shares of First Quantum Minerals stock in a transaction dated Tuesday, December 31st. The stock was bought at an average price 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 the company’s stock in a transaction that occurred on 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 insiders.

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.