Raymond James Issues Positive Forecast for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM) had its target price raised by Raymond James from C$20.00 to C$21.00 in a research note issued to investors on Friday,BayStreet.CA reports.

A number of other brokerages also recently commented on FM. TD Securities raised their target price on shares of First Quantum Minerals from C$19.00 to C$20.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. Canaccord Genuity Group lowered First Quantum Minerals from a “buy” rating to a “hold” rating and cut their price objective for the company from C$24.00 to C$20.00 in a research report on Thursday, January 16th. Morgan Stanley boosted their price objective on First Quantum Minerals from C$20.20 to C$22.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Stifel Canada upgraded First Quantum Minerals to a “hold” rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada raised their target price on First Quantum Minerals from C$23.00 to C$24.00 in a report on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, First Quantum Minerals presently has a consensus rating of “Hold” and an average price target of C$21.57.

First Quantum Minerals Stock Performance

Shares of TSE:FM opened at C$16.00 on Friday. The firm has a market capitalization of C$9.08 billion, a PE ratio of -5.91, a P/E/G ratio of -1.28 and a beta of 1.73. First Quantum Minerals has a 12 month low of C$13.81 and a 12 month high of C$23.28. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41. The business has a 50-day moving average of C$19.20 and a two-hundred day moving average of C$18.78.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.01. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. During the same quarter in the prior year, the firm posted ($0.37) earnings per share. As a group, research analysts forecast that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Buying and Selling at First Quantum Minerals

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of C$21.11, for a total transaction of C$844,400.00. Also, Director Alison Cheryl Beckett bought 1,388 shares of First Quantum Minerals stock in a transaction on Monday, March 31st. The shares were purchased at an average cost of C$19.25 per share, for a total transaction of C$26,719.00. 19.35% of the stock is currently owned by insiders.

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.