First Quantum Minerals (TSE:FM) PT Raised to C$20.00 at CIBC

First Quantum Minerals (TSE:FM) had its price target raised by CIBC from C$18.00 to C$20.00 in a research note issued on Wednesday, BayStreet.CA reports. CIBC’s price target indicates a potential upside of 6.55% from the company’s current price.

Several other brokerages have also weighed in on FM. Deutsche Bank Aktiengesellschaft raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and increased their price objective for the company from C$19.00 to C$26.00 in a research report on Wednesday, June 26th. Royal Bank of Canada reduced their price objective on First Quantum Minerals from C$25.00 to C$22.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Scotiabank boosted their target price on First Quantum Minerals from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a research note on Tuesday, October 8th. Jefferies Financial Group raised their price target on shares of First Quantum Minerals from C$19.50 to C$23.00 in a research note on Monday, July 8th. Finally, Eight Capital lifted their price target on shares of First Quantum Minerals from C$17.00 to C$22.00 in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, First Quantum Minerals currently has a consensus rating of “Hold” and a consensus target price of C$20.69.

First Quantum Minerals Stock Up 2.2 %

Shares of TSE:FM traded up C$0.40 during trading on Wednesday, hitting C$18.77. 1,370,310 shares of the company were exchanged, compared to its average volume of 2,653,057. The stock has a market cap of C$15.66 billion, a price-to-earnings ratio of -7.25, a P/E/G ratio of -1.28 and a beta of 1.73. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week high of C$30.68. The firm has a fifty day moving average price of C$16.99 and a two-hundred day moving average price of C$17.08.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported C($0.03) EPS for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.02. The company 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 net margin of 24.07% and a negative return on equity of 14.87%. As a group, research analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current fiscal year.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Ryan Leslie Macwilliam sold 16,000 shares of the company’s stock in a transaction dated 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 news, Senior Officer Zenon Wozniak sold 6,323 shares of the 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. Also, 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 transaction of C$264,640.00. Company insiders own 19.35% of the company’s stock.

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.