First Quantum Minerals (TSE:FM) Price Target Raised to C$23.00 at Royal Bank of Canada

First Quantum Minerals (TSE:FM) had its price objective hoisted by Royal Bank of Canada from C$22.00 to C$23.00 in a research note released on Thursday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on FM. Deutsche Bank Aktiengesellschaft raised First Quantum Minerals from a “hold” rating to a “buy” rating and increased their target price for the stock from C$19.00 to C$26.00 in a report on Wednesday, June 26th. Scotiabank lifted their price objective on First Quantum Minerals from C$17.00 to C$18.50 and gave the company a “sector perform” rating in a report on Tuesday, October 8th. Cormark lowered their target price on shares of First Quantum Minerals from C$25.00 to C$23.50 and set a “buy” rating on the stock in a report on Thursday, July 25th. Canaccord Genuity Group lifted their price target on shares of First Quantum Minerals from C$22.00 to C$25.00 in a report on Monday, July 22nd. Finally, Barclays reduced their price target on shares of First Quantum Minerals from C$18.00 to C$17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of “Hold” and a consensus target price of C$20.83.

First Quantum Minerals Trading Up 2.2 %

TSE:FM opened at C$18.91 on Thursday. The firm has a market cap of C$15.77 billion, a price-to-earnings ratio of -7.58, a P/E/G ratio of -1.28 and a beta of 1.73. The company has a quick ratio of 1.41, a current ratio of 2.35 and a debt-to-equity ratio of 67.00. First Quantum Minerals has a 12 month low of C$9.31 and a 12 month high of C$28.80. The company’s 50 day moving average is C$17.15 and its 200-day moving average is C$17.14.

Insider Activity

In related news, Senior Officer Zenon Wozniak sold 6,323 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$18.53, for a total transaction of C$117,165.19. Corporate 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.