Royal Bank of Canada Increases First Quantum Minerals (TSE:FM) Price Target to C$24.00

First Quantum Minerals (TSE:FM) had its target price hoisted by equities researchers at Royal Bank of Canada from C$23.00 to C$24.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price target points to a potential upside of 15.66% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Barclays upgraded First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, November 12th. Morgan Stanley lifted 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 research report on Thursday, December 12th. CIBC upped their price target on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. National Bankshares raised their price target on shares of First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group reduced their price objective on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, First Quantum Minerals presently has a consensus rating of “Hold” and an average price target of C$21.05.

First Quantum Minerals Stock Performance

TSE FM opened at C$20.75 on Wednesday. The firm’s fifty day moving average price is C$18.91 and its two-hundred day moving average price is C$17.79. The stock has a market cap of C$17.31 billion, a PE ratio of -8.01, a PEG ratio of -1.28 and a beta of 1.73. 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 fifty-two week low of C$10.91 and a fifty-two week high of C$21.45.

Insider Activity

In other First Quantum Minerals news, Director Simon John Scott acquired 1,397 shares of First Quantum Minerals stock in a transaction dated Tuesday, December 31st. The stock was purchased at an average cost of C$18.57 per share, for a total transaction of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. 19.35% of the stock is currently owned by company 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.