First Quantum Minerals (TSE:FM) Given New C$24.00 Price Target at Royal Bank of Canada

First Quantum Minerals (TSE:FM) had its price target hoisted by equities researchers at Royal Bank of Canada from C$23.00 to C$24.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price objective suggests a potential upside of 15.66% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Morgan Stanley increased 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 report on Thursday, December 12th. Barclays upgraded First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, November 12th. CIBC increased their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, November 8th. Finally, Jefferies Financial Group reduced their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a research note on Monday. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, First Quantum Minerals presently has a consensus rating of “Hold” and a consensus price target of C$21.05.

First Quantum Minerals Stock Performance

First Quantum Minerals stock opened at C$20.75 on Wednesday. First Quantum Minerals has a 1-year low of C$10.91 and a 1-year high of C$21.45. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. The firm has a market capitalization of C$17.31 billion, a PE ratio of -8.01, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. The firm’s 50 day simple moving average is C$18.91 and its 200 day simple moving average is C$17.79.

Insider Transactions at First Quantum Minerals

In other news, Director Simon John Scott acquired 1,397 shares of First Quantum Minerals stock in a transaction on Tuesday, December 31st. The stock was acquired at an average cost of C$18.57 per share, for a total transaction of C$25,942.29. Also, Senior Officer Zenon Wozniak sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of C$20.32, for a total transaction of C$914,400.00. 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.