CIBC Boosts First Quantum Minerals (TSE:FM) Price Target to C$18.00

First Quantum Minerals (TSE:FMGet Free Report) had its price target increased by CIBC from C$15.00 to C$18.00 in a research report issued on Thursday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price target suggests a potential upside of 5.39% from the company’s previous close.

FM has been the subject of a number of other reports. Raymond James upped their price objective on shares of First Quantum Minerals from C$19.00 to C$21.00 in a research report on Thursday, May 23rd. Morgan Stanley upped their price objective on shares of First Quantum Minerals from C$18.90 to C$19.80 in a research report on Wednesday, May 8th. National Bank Financial upgraded shares of First Quantum Minerals from a “sec perform spec market wgt” rating to an “outperform spec market weight” rating in a research report on Thursday, February 29th. Scotiabank upped their price objective on shares of First Quantum Minerals from C$18.00 to C$19.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group reduced their price objective on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “buy” rating for the company in a research report on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to, the stock has a consensus rating of “Hold” and an average target price of C$18.66.

View Our Latest Research Report on First Quantum Minerals

First Quantum Minerals Stock Performance

TSE FM traded up C$0.23 during mid-day trading on Thursday, reaching C$17.08. 1,423,037 shares of the stock were exchanged, compared to its average volume of 2,994,134. The business’s 50 day moving average is C$17.30 and its 200-day moving average is C$14.26. First Quantum Minerals has a 1 year low of C$9.31 and a 1 year high of C$39.13. The company has a market capitalization of C$14.24 billion, a P/E ratio of -7.39, a P/E/G ratio of -1.28 and a beta of 1.96. The company has a debt-to-equity ratio of 52.05, a quick ratio of 1.41 and a current ratio of 2.68.

First Quantum Minerals (TSE:FMGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). First Quantum Minerals had a negative return on equity of 12.97% and a negative net margin of 20.02%. The firm had revenue of C$1.40 billion for the quarter, compared to analysts’ expectations of C$1.25 billion. On average, equities research analysts forecast that First Quantum Minerals will post 1.0067358 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 49,250 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of C$17.97, for a total transaction of C$885,022.50. 16.10% of the stock is owned by company insiders.

First Quantum Minerals Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for First Quantum Minerals (TSE:FM)

Receive News & Ratings for First Quantum Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Quantum Minerals and related companies with's FREE daily email newsletter.