First Quantum Minerals (TSE:FM) Given New C$47.00 Price Target at National Bankshares

First Quantum Minerals (TSE:FM) had its target price increased by equities research analysts at National Bankshares from C$42.50 to C$47.00 in a research note issued on Thursday,BayStreet.CA reports. National Bankshares’ price objective points to a potential upside of 12.25% from the stock’s previous close.

A number of other brokerages have also recently issued reports on FM. Scotiabank raised their price objective on First Quantum Minerals from C$35.00 to C$41.00 and gave the company a “sector perform” rating in a research note on Thursday, January 8th. Jefferies Financial Group raised their price target on First Quantum Minerals from C$38.00 to C$47.00 in a research report on Monday, January 12th. Citigroup lifted their price target on First Quantum Minerals from C$26.00 to C$39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Stifel Nicolaus raised First Quantum Minerals from a “hold” rating to a “buy” rating and increased their price objective for the company from C$26.00 to C$38.00 in a research note on Tuesday, October 21st. Finally, Royal Bank Of Canada raised their target price on shares of First Quantum Minerals from C$35.00 to C$40.00 in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Moderate Buy” and a consensus price target of C$39.34.

First Quantum Minerals Price Performance

FM traded up C$0.24 during midday trading on Thursday, hitting C$41.87. The stock had a trading volume of 3,418,891 shares, compared to its average volume of 2,300,633. First Quantum Minerals has a 1 year low of C$14.41 and a 1 year high of C$45.17. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The business has a fifty day moving average of C$35.99 and a 200 day moving average of C$30.10. The company has a market cap of C$34.93 billion, a P/E ratio of 697.83, a price-to-earnings-growth ratio of -1.28 and a beta of 1.37.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Tuesday, October 28th. The company reported C($0.02) earnings per share (EPS) for the quarter. The business had revenue of C$1.87 billion during the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. As a group, equities analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles Kevin Mcarthur acquired 10,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was acquired at an average price of C$29.06 per share, for a total transaction of C$290,600.00. Following the completion of the acquisition, the director owned 35,000 shares in the company, valued at C$1,017,100. This trade represents a 40.00% increase in their ownership of the stock. Insiders acquired 10,474 shares of company stock valued at $304,575 over the last 90 days. 19.35% of the stock is 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. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.