Scotiabank Lowers First Quantum Minerals (TSE:FM) Price Target to C$21.50

First Quantum Minerals (TSE:FM) had its price objective cut by research analysts at Scotiabank from C$22.00 to C$21.50 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 13.10% from the stock’s previous close.

FM has been the subject of several other reports. CIBC raised their price objective on shares of First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Barclays upgraded First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. National Bankshares increased their price objective on 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 boosted their target price on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group lowered their price target on shares of First Quantum Minerals from C$23.00 to C$22.00 in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$21.18.

First Quantum Minerals Stock Performance

TSE FM opened at C$19.01 on Thursday. The stock has a market cap of C$15.86 billion, a PE ratio of -7.34, a P/E/G 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. The firm has a 50-day moving average of C$19.08 and a 200-day moving average of C$17.92. First Quantum Minerals has a 52-week low of C$10.91 and a 52-week high of C$21.45.

Insider Activity at First Quantum Minerals

In other news, Director Simon John Scott acquired 1,397 shares of First Quantum Minerals stock in a transaction that occurred on Tuesday, December 31st. The shares were acquired at an average price 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 value of C$914,400.00. 19.35% of the stock is currently owned by 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.