Royal Bank of Canada Trims First Quantum Minerals (TSE:FM) Target Price to C$22.00

First Quantum Minerals (TSE:FM) had its target price trimmed by Royal Bank of Canada from C$25.00 to C$22.00 in a research report sent to investors on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

FM has been the topic of several other reports. JPMorgan Chase & Co. dropped their price target on First Quantum Minerals from C$20.00 to C$16.00 in a research report on Friday, July 19th. Cormark lowered their price target on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a buy rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus lifted their price objective on First Quantum Minerals from C$15.00 to C$18.00 and gave the company a hold rating in a research report on Thursday, May 30th. Citigroup raised First Quantum Minerals from a neutral rating to a buy rating and upped their target price for the stock from C$14.00 to C$26.00 in a research report on Thursday, June 20th. Finally, CIBC lifted their target price on shares of First Quantum Minerals from C$15.00 to C$18.00 and gave the company a neutral rating in a research note on Thursday, June 20th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of C$20.12.

First Quantum Minerals Price Performance

Shares of First Quantum Minerals stock opened at C$16.86 on Tuesday. First Quantum Minerals has a 52 week low of C$9.31 and a 52 week high of C$36.02. 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 stock has a market cap of C$14.06 billion, a PE ratio of -6.61, a price-to-earnings-growth ratio of -1.28 and a beta of 1.72. The company’s 50-day moving average price is C$16.60 and its two-hundred day moving average price is C$16.31.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported C($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.05) by C$0.02. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. The firm had revenue of C$1.68 billion for the quarter, compared to the consensus estimate of C$1.42 billion. As a group, sell-side analysts anticipate that First Quantum Minerals will post 1.0143443 EPS for the current fiscal year.

Insider Activity at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of First Quantum Minerals stock in a transaction dated Monday, July 29th. The stock was sold at an average price of C$16.54, for a total value of C$264,640.00. 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.