First Quantum Minerals (TSE:FM) Given New C$22.00 Price Target at Morgan Stanley

First Quantum Minerals (TSE:FM) had its price objective hoisted by Morgan Stanley from C$20.20 to C$22.00 in a report released on Thursday morning,BayStreet.CA reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages also recently commented on FM. JPMorgan Chase & Co. cut their price target 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 First Quantum Minerals from C$18.00 to C$20.00 in a research report on Wednesday, October 23rd. Barclays raised First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a report on Tuesday, November 12th. Royal Bank of Canada boosted their price objective on 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, Scotiabank raised their target price on shares of First Quantum Minerals from C$17.00 to C$18.50 and gave the company a “sector perform” rating in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, First Quantum Minerals has an average rating of “Hold” and an average price target of C$21.05.

First Quantum Minerals Stock Down 3.9 %

First Quantum Minerals stock opened at C$19.46 on Thursday. The firm has a market capitalization of C$16.23 billion, a price-to-earnings ratio of -7.51, a P/E/G ratio of -1.28 and a beta of 1.73. The firm has a 50 day simple moving average of C$18.72 and a 200 day simple moving average of C$17.70. First Quantum Minerals has a 1-year low of C$9.31 and a 1-year high of C$21.45. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00.

Insider Buying and Selling at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 45,000 shares of the stock in a transaction 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. 19.35% of the stock is owned by company 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.