First Quantum Minerals (TSE:FM) Stock Price Down 2.2% Following Analyst Downgrade

First Quantum Minerals Ltd. (TSE:FM) traded down 2.2% during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from C$19.70 to C$19.40. The stock traded as low as C$14.46 and last traded at C$14.72. 1,602,292 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 2,604,265 shares. The stock had previously closed at C$15.05.

A number of other equities analysts also recently commented on the stock. Desjardins upgraded shares of First Quantum Minerals to a “hold” rating in a research note on Thursday, April 3rd. Jefferies Financial Group reduced their price objective on First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. TD Securities lifted their target price on First Quantum Minerals from C$19.00 to C$20.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on First Quantum Minerals from C$18.00 to C$17.00 in a research report on Thursday, January 30th. Finally, Barclays decreased their price objective on First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, First Quantum Minerals has an average rating of “Hold” and a consensus target price of C$21.68.

Insider Activity

In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 40,000 shares of First Quantum Minerals stock in a transaction dated 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 purchased 1,388 shares of the company’s stock in a transaction on Monday, March 31st. The shares were purchased at an average price of C$19.25 per share, for a total transaction of C$26,719.00. Corporate insiders own 19.35% of the company’s stock.

First Quantum Minerals Trading Down 7.8 %

The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The firm has a market cap of C$8.87 billion, a price-to-earnings ratio of -5.78, a PEG ratio of -1.28 and a beta of 1.73. The company has a fifty day moving average price of C$18.93 and a 200-day moving average price of C$18.77.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share for the quarter, beating the consensus estimate 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 last year, the business posted ($0.37) earnings per share. As a group, research analysts expect that First Quantum Minerals Ltd. will post 0.55872 EPS for the current year.

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.