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

First Quantum Minerals (TSE:FM) had its target price boosted by stock analysts at Scotiabank from C$18.50 to C$23.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 18.56% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of First Quantum Minerals from C$20.00 to C$18.00 in a report on Friday, November 8th. CIBC boosted their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. National Bankshares boosted their target price on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their target price on shares of First Quantum Minerals from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley boosted their target price on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an “equal weight” rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$21.05.

First Quantum Minerals Trading Down 0.3 %

Shares of First Quantum Minerals stock opened at C$19.40 on Thursday. The firm has a market capitalization of C$16.18 billion, a PE ratio of -7.49, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. The firm’s 50 day moving average is C$18.72 and its 200 day moving average is C$17.71. First Quantum Minerals has a 1 year low of C$10.07 and a 1 year high of C$21.45.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 45,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$20.32, for a total transaction of C$914,400.00. 19.35% of the stock is owned by corporate 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.