Shares of First Quantum Minerals Limited (TSE:FM) fell 4.1% during mid-day trading on Tuesday . The company traded as low as C$12.38 and last traded at C$12.39. 417,003 shares changed hands during trading, a decline of 85% from the average session volume of 2,873,243 shares. The stock had previously closed at C$12.92.
A number of brokerages have recently issued reports on FM. Canaccord Genuity downgraded shares of First Quantum Minerals from a “buy” rating to a “hold” rating and raised their price target for the stock from C$16.00 to C$17.00 in a report on Monday, April 15th. National Bank Financial set a C$17.50 price target on shares of First Quantum Minerals in a report on Thursday, April 18th. Raymond James cut their price target on shares of First Quantum Minerals from C$21.00 to C$19.00 in a report on Monday, April 8th. Royal Bank of Canada cut their price target on shares of First Quantum Minerals from C$18.00 to C$17.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, BMO Capital Markets cut their price target on shares of First Quantum Minerals from C$17.00 to C$16.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. First Quantum Minerals has a consensus rating of “Buy” and a consensus price target of C$18.77.
The company has a debt-to-equity ratio of 87.75, a quick ratio of 1.25 and a current ratio of 2.10. The firm has a market cap of $8.85 billion and a price-to-earnings ratio of 19.05.
First Quantum Minerals (TSE:FM) last posted its earnings results on Thursday, February 14th. The company reported C$0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.36 by C($0.02). The company had revenue of C$1.39 billion for the quarter, compared to analysts’ expectations of C$1.29 billion. As a group, research analysts expect that First Quantum Minerals Limited will post 1.22000003852632 earnings per share for the current year.
The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, May 7th. Investors of record on Monday, April 15th will be issued a $0.005 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a yield of 0.03%. First Quantum Minerals’s dividend payout ratio (DPR) is presently 1.19%.
About First Quantum Minerals (TSE:FM)
First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates seven mines, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine and copper smelter in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.
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