First Quantum Minerals (TSE:FM) Raised to “Overweight” at Barclays

First Quantum Minerals (TSE:FM) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday,BayStreet.CA reports.

Several other brokerages have also recently commented on FM. Morgan Stanley increased their price target on shares of First Quantum Minerals from C$19.40 to C$20.20 in a research report on Thursday, September 19th. JPMorgan Chase & Co. reduced their price target on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research report on Friday, November 8th. National Bankshares increased their price target on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Cormark reduced their price target on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Finally, Scotiabank increased their price target on shares of First Quantum Minerals from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a research report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, First Quantum Minerals currently has a consensus rating of “Hold” and an average target price of C$20.72.

First Quantum Minerals Stock Performance

TSE:FM opened at C$17.94 on Tuesday. 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 firm has a 50-day moving average of C$17.65 and a two-hundred day moving average of C$17.39. The stock has a market cap of C$14.96 billion, a P/E ratio of -6.93, a PEG ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 1-year low of C$9.31 and a 1-year high of C$20.76.

Insider Activity at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 6,323 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. 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.