First Quantum Minerals (TSE:FM) Price Target Cut to C$17.00 by Analysts at Barclays

First Quantum Minerals (TSE:FM) had its target price lowered by Barclays from C$18.00 to C$17.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential downside of 5.56% from the stock’s previous close.

Several other equities analysts have also recently issued reports on FM. Morgan Stanley raised their price target on First Quantum Minerals from C$19.40 to C$20.20 in a report on Thursday, September 19th. Scotiabank increased their target price on 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. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating and increased their target price for the company from C$19.00 to C$26.00 in a research note on Wednesday, June 26th. Jefferies Financial Group increased their target price on First Quantum Minerals from C$19.50 to C$23.00 in a research note on Monday, July 8th. Finally, Canaccord Genuity Group raised their price target on First Quantum Minerals from C$22.00 to C$25.00 in a research report on Monday, July 22nd. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, First Quantum Minerals has an average rating of “Hold” and a consensus price target of C$20.59.

First Quantum Minerals Price Performance

First Quantum Minerals stock traded up C$0.53 during mid-day trading on Wednesday, hitting C$18.00. 1,236,017 shares of the company were exchanged, compared to its average volume of 2,681,752. 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 business has a fifty day moving average of C$16.77 and a 200 day moving average of C$16.92. First Quantum Minerals has a 1-year low of C$9.31 and a 1-year high of C$32.28. The company has a market capitalization of C$15.01 billion, a PE ratio of -7.09, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last announced its earnings results on Tuesday, July 23rd. The company reported C($0.03) EPS for the quarter, topping the consensus estimate of C($0.05) by C$0.02. The company had revenue of C$1.68 billion for the quarter, compared to analysts’ expectations 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%. As a group, sell-side analysts expect that First Quantum Minerals will post 0.3652482 earnings per share for the current year.

Insider Activity at First Quantum Minerals

In related news, Senior Officer Zenon Wozniak sold 6,323 shares of the business’s stock in a transaction 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. In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of First Quantum Minerals stock in a transaction on Monday, July 29th. The stock was sold at an average price of C$16.54, for a total value of C$264,640.00. Also, Senior Officer Zenon Wozniak sold 6,323 shares of First Quantum Minerals stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total value of C$117,165.19. 19.35% of the stock is currently 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.