First Quantum Minerals (TSE:FM) Price Target Raised to C$24.00 at Scotiabank

First Quantum Minerals (TSE:FM) had its price objective hoisted by Scotiabank from C$22.50 to C$24.00 in a research report sent to investors on Monday,BayStreet.CA reports.

A number of other equities research analysts have also recently issued reports on FM. Desjardins raised shares of First Quantum Minerals to a “hold” rating in a report on Thursday, April 3rd. BMO Capital Markets raised shares of First Quantum Minerals to a “strong-buy” rating in a research report on Tuesday, April 15th. Barclays increased their price objective on shares of First Quantum Minerals from C$21.40 to C$21.60 in a research report on Wednesday, May 7th. Raymond James Financial lifted their target price on shares of First Quantum Minerals from C$20.00 to C$21.00 in a report on Friday, April 4th. Finally, Royal Bank Of Canada increased their price target on shares of First Quantum Minerals from C$24.00 to C$25.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, First Quantum Minerals has an average rating of “Moderate Buy” and an average price target of C$22.28.

First Quantum Minerals Price Performance

TSE:FM opened at C$21.43 on Monday. The stock has a market capitalization of C$12.16 billion, a PE ratio of -7.92, a P/E/G ratio of -1.28 and a beta of 1.73. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The firm has a fifty day simple moving average of C$19.41 and a 200 day simple moving average of C$19.17. First Quantum Minerals has a 1-year low of C$13.81 and a 1-year high of C$23.28.

Insider Activity at First Quantum Minerals

In other news, Director Alison Cheryl Beckett bought 1,388 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was bought at an average cost of C$19.25 per share, for a total transaction of C$26,719.00. 19.35% of the stock is currently owned by corporate insiders.

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.