First Quantum Minerals (TSE:FM) Given New C$19.40 Price Target at Morgan Stanley

First Quantum Minerals (TSE:FM) had its price target trimmed by Morgan Stanley from C$19.70 to C$19.40 in a report released on Wednesday,BayStreet.CA reports.

FM has been the topic of several other reports. Stifel Canada upgraded shares of First Quantum Minerals to a “hold” rating in a research report on Wednesday, March 19th. Royal Bank of Canada upped their target price on First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Raymond James upped their price objective on First Quantum Minerals from C$20.00 to C$21.00 in a research report on Friday, April 4th. Canaccord Genuity Group downgraded shares of First Quantum Minerals from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$24.00 to C$20.00 in a report on Thursday, January 16th. Finally, Jefferies Financial Group cut their price objective on shares of First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Hold” and an average price target of C$21.68.

First Quantum Minerals Stock Performance

TSE:FM traded down C$1.39 during mid-day trading on Wednesday, reaching C$15.56. 1,447,682 shares of the stock were exchanged, compared to its average volume of 2,662,070. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. First Quantum Minerals has a 1 year low of C$13.81 and a 1 year high of C$23.28. The company has a 50 day simple moving average of C$18.97 and a 200-day simple moving average of C$18.77. The stock has a market capitalization of C$8.83 billion, a P/E ratio of -5.75, a P/E/G ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same quarter last year, the company earned ($0.37) EPS. Analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Quantum Minerals news, Director Alison Cheryl Beckett purchased 1,388 shares of First Quantum Minerals stock in a transaction on Monday, March 31st. The stock was bought at an average price of C$19.25 per share, for a total transaction of C$26,719.00. Also, Director Charles Kevin Mcarthur purchased 25,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of C$17.23 per share, with a total value of C$430,842.13. Company insiders own 19.35% of the company’s stock.

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.