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

First Quantum Minerals (TSE:FM) had its price target increased by Raymond James from C$20.00 to C$21.00 in a report released on Friday,BayStreet.CA reports.

A number of other brokerages have also weighed in on FM. Canaccord Genuity Group cut First Quantum Minerals from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$24.00 to C$20.00 in a research report on Thursday, January 16th. TD Securities raised their price objective 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. Morgan Stanley upped their target price on shares of 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. Scotiabank reduced their price target on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Finally, Royal Bank of Canada upped their price target on First Quantum Minerals from C$23.00 to C$24.00 in a report on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$21.57.

First Quantum Minerals Stock Down 11.6 %

FM stock opened at C$16.00 on Friday. First Quantum Minerals has a one year low of C$13.81 and a one year high of C$23.28. The company has a debt-to-equity ratio of 56.41, a quick ratio of 1.41 and a current ratio of 1.80. The company has a fifty day moving average of C$19.20 and a 200-day moving average of C$18.72. The stock has a market capitalization of C$9.08 billion, a PE ratio of -5.91, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Tuesday, February 11th. The company reported C$0.04 EPS for the quarter, beating 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 period in the prior year, the company earned ($0.37) earnings per share. As a group, analysts expect that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Transactions at First Quantum Minerals

In other First Quantum Minerals news, Director Alison Cheryl Beckett bought 1,388 shares of First Quantum Minerals stock in a transaction that occurred 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. Also, Senior Officer Zenon Wozniak sold 40,000 shares of First Quantum Minerals stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total value of C$844,400.00. Insiders own 19.35% of the company’s stock.

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.