Canaccord Genuity Group Downgrades First Quantum Minerals (TSE:FM) to Hold

First Quantum Minerals (TSE:FM) was downgraded by equities research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued on Thursday,BayStreet.CA reports. They presently have a C$20.00 price objective on the stock, down from their previous price objective of C$24.00. Canaccord Genuity Group’s price objective indicates a potential upside of 5.21% from the company’s current price.

Other analysts have also issued research reports about the company. Scotiabank cut their target price on First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating for the company in a research note on Thursday. Royal Bank of Canada boosted their price objective on shares of First Quantum Minerals from C$23.00 to C$24.00 in a report on Wednesday, January 8th. Morgan Stanley increased their target price on shares of First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lowered 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 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. 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.com, the stock has an average rating of “Hold” and an average target price of C$21.18.

First Quantum Minerals Trading Up 1.5 %

TSE FM opened at C$19.01 on Thursday. The stock’s 50-day simple moving average is C$19.08 and its two-hundred day simple moving average is C$17.92. First Quantum Minerals has a twelve month low of C$10.91 and a twelve month high of C$21.45. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. The company has a market capitalization of C$15.86 billion, a price-to-earnings ratio of -7.34, a PEG ratio of -1.28 and a beta of 1.73.

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 that occurred on Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. Also, Director Simon John Scott purchased 1,397 shares of First Quantum Minerals stock in a transaction that occurred on 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. 19.35% of the stock is owned by corporate insiders.

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.