First Quantum Minerals (TSE:FM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

First Quantum Minerals (TSE:FM) had its target price upped by research analysts at Morgan Stanley from C$20.20 to C$22.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 13.40% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. 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. Royal Bank of Canada increased their price objective on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Barclays upgraded shares of First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price target on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, November 8th. Finally, CIBC raised their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$21.05.

First Quantum Minerals Stock Performance

Shares of FM stock opened at C$19.40 on Thursday. The company has a debt-to-equity ratio of 67.00, a quick ratio of 1.41 and a current ratio of 2.35. First Quantum Minerals has a one year low of C$10.07 and a one year high of C$21.45. The company’s 50-day simple moving average is C$18.72 and its 200-day simple moving average is C$17.71. The stock has a market capitalization of C$16.18 billion, a price-to-earnings ratio of -7.49, a PEG ratio of -1.28 and a beta of 1.73.

Insider Buying and Selling

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 value of C$117,165.19. 19.35% of the stock is currently owned by insiders.

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.