First Quantum Minerals (TSE:FM) Price Target Increased to C$20.30 by Analysts at Morgan Stanley

First Quantum Minerals (TSE:FM) had its price objective boosted by Morgan Stanley from C$19.80 to C$20.30 in a report released on Friday morning, BayStreet.CA reports.

A number of other brokerages have also issued reports on FM. National Bankshares upgraded First Quantum Minerals from a sector perform rating to an outperform rating and increased their target price for the company from C$15.00 to C$16.50 in a research report on Friday, March 1st. Stifel Nicolaus increased their price objective on First Quantum Minerals from C$15.00 to C$18.00 and gave the company a hold rating in a research note on Thursday, May 30th. Barclays increased their price objective on First Quantum Minerals from C$13.00 to C$16.00 and gave the company an equal weight rating in a research note on Tuesday, April 16th. Royal Bank of Canada raised First Quantum Minerals from a sector perform rating to an outperform rating and increased their price objective for the company from C$17.00 to C$18.00 in a research note on Monday, March 4th. Finally, Jefferies Financial Group reduced their price objective on First Quantum Minerals from C$20.00 to C$19.50 and set a buy rating for the company in a research note on Wednesday, April 24th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of C$18.69.

First Quantum Minerals Trading Up 0.3 %

First Quantum Minerals stock opened at C$17.13 on Friday. The company has a current ratio of 2.68, a quick ratio of 1.41 and a debt-to-equity ratio of 52.05. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$39.13. The stock’s 50 day simple moving average is C$17.36 and its two-hundred day simple moving average is C$14.32. The firm has a market cap of C$14.28 billion, a PE ratio of -7.42, a P/E/G ratio of -1.28 and a beta of 1.96.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). First Quantum Minerals had a negative net margin of 20.02% and a negative return on equity of 12.97%. The business had revenue of C$1.40 billion for the quarter, compared to analysts’ expectations of C$1.25 billion. Analysts anticipate that First Quantum Minerals will post 1.0067358 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of C$17.97, for a total transaction of C$885,022.50. Corporate insiders own 16.10% of the company’s stock.

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.