Raymond James Reiterates Outperform Rating for First Quantum Minerals (TSE:FM)

First Quantum Minerals (TSE:FM)‘s stock had its “outperform” rating restated by investment analysts at Raymond James in a note issued to investors on Wednesday, BayStreet.CA reports. They currently have a C$14.00 price objective on the stock. Raymond James’ price target would indicate a potential upside of 97.74% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. CSFB reduced their price objective on shares of First Quantum Minerals from C$13.00 to C$12.00 in a research note on Tuesday, January 14th. TD Securities lowered shares of First Quantum Minerals from an “action list buy” rating to a “speculative buy” rating and reduced their price objective for the stock from C$16.50 to C$9.50 in a research note on Friday, March 20th. Scotiabank boosted their price objective on shares of First Quantum Minerals from C$14.00 to C$16.50 in a research note on Thursday, December 12th. Deutsche Bank lowered shares of First Quantum Minerals from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$13.60 to C$9.00 in a research note on Friday, March 20th. Finally, Credit Suisse Group reduced their price objective on shares of First Quantum Minerals from C$13.00 to C$12.00 in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of C$13.48.

TSE:FM opened at C$7.08 on Wednesday. First Quantum Minerals has a one year low of C$4.71 and a one year high of C$16.63. The company has a debt-to-equity ratio of 94.61, a quick ratio of 0.65 and a current ratio of 1.25. The firm has a market cap of $4.91 billion and a P/E ratio of -85.30. The firm has a 50-day simple moving average of C$9.38 and a 200-day simple moving average of C$11.17.

First Quantum Minerals (TSE:FM) last posted its quarterly earnings data on Thursday, February 13th. The company reported C$0.07 EPS for the quarter, topping the consensus estimate of C$0.03 by C$0.04. The firm had revenue of C$1.69 billion for the quarter, compared to the consensus estimate of C$1.71 billion. On average, research analysts predict that First Quantum Minerals will post 0.48 EPS for the current fiscal year.

First Quantum Minerals Company Profile

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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Analyst Recommendations for First Quantum Minerals (TSE:FM)

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