First Quantum Minerals (TSE:FM – Free Report) had its price objective increased by Scotiabank from C$17.00 to C$18.50 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.
A number of other equities analysts also recently weighed in on FM. Eight Capital upped their target price on First Quantum Minerals from C$17.00 to C$22.00 in a report on Thursday, July 11th. CIBC increased their target price on shares of First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a neutral rating in a research report on Thursday, June 20th. Barclays boosted their price target on shares of First Quantum Minerals from C$16.00 to C$18.00 in a report on Thursday, August 1st. Royal Bank of Canada cut their price objective on First Quantum Minerals from C$25.00 to C$22.00 and set an outperform rating for the company in a report on Tuesday, September 10th. Finally, Cormark lowered their target price on First Quantum Minerals from C$25.00 to C$23.50 and set a buy rating on the stock in a research note on Thursday, July 25th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of C$20.41.
View Our Latest Research Report on FM
First Quantum Minerals Stock Up 3.4 %
First Quantum Minerals (TSE:FM – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The company reported C($0.03) EPS for the quarter, beating the consensus estimate of C($0.05) by C$0.02. The business had revenue of C$1.68 billion during the quarter, compared to the consensus estimate of C$1.42 billion. First Quantum Minerals had a negative return on equity of 14.87% and a negative net margin of 24.07%. Equities research analysts expect that First Quantum Minerals will post 0.3652482 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total transaction of C$264,640.00. In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 6,323 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$18.53, for a total value of C$117,165.19. Also, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of C$16.54, for a total value of C$264,640.00. Company insiders own 19.35% of the company’s stock.
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.
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