First Quantum Minerals (TSE:FM) Price Target Lowered to C$21.50 at Scotiabank

First Quantum Minerals (TSE:FM) had its target price cut by equities research analysts at Scotiabank from C$22.00 to C$21.50 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 13.10% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of First Quantum Minerals from C$23.00 to C$24.00 in a research report on Wednesday, January 8th. CIBC boosted their target price on shares of First Quantum Minerals from C$18.00 to C$20.00 in a report on Wednesday, October 23rd. Jefferies Financial Group decreased their price target on First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. National Bankshares boosted their price objective on First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their target price on First Quantum Minerals from C$20.00 to C$18.00 in a research note on Friday, November 8th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, First Quantum Minerals presently has an average rating of “Hold” and a consensus price target of C$21.18.

First Quantum Minerals Price Performance

First Quantum Minerals stock opened at C$19.01 on Thursday. The stock’s 50 day moving average is C$19.08 and its 200 day moving average is C$17.92. First Quantum Minerals has a one year low of C$10.91 and a one year high of C$21.45. The firm has a market cap of C$15.86 billion, a P/E ratio of -7.34, a P/E/G ratio of -1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 67.00, a current ratio of 2.35 and a quick ratio of 1.41.

Insider Buying and Selling

In related news, Senior Officer Zenon Wozniak sold 45,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total transaction of C$914,400.00. Also, Director Simon John Scott purchased 1,397 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were purchased at an average price of C$18.57 per share, for a total transaction of C$25,942.29. 19.35% of the stock is currently owned by company 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.