Royal Bank of Canada Boosts First Quantum Minerals Ltd. (FM.TO) (TSE:FM) Price Target to C$31.00


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First Quantum Minerals Ltd. (FM.TO) (TSE:FM) had its price objective upped by stock analysts at Royal Bank of Canada from C$23.00 to C$31.00 in a research note issued to investors on Tuesday, AnalystRatings.net reports. Royal Bank of Canada’s target price suggests a potential upside of 27.89% from the company’s current price.

A number of other brokerages also recently issued reports on FM. Eight Capital increased their price objective on shares of First Quantum Minerals Ltd. (FM.TO) from C$17.00 to C$19.00 in a research note on Wednesday, October 14th. TD Securities raised their price target on shares of First Quantum Minerals Ltd. (FM.TO) from C$20.00 to C$26.00 in a research note on Wednesday, December 16th. Morgan Stanley raised their price target on shares of First Quantum Minerals Ltd. (FM.TO) from C$18.00 to C$22.50 in a research note on Thursday, December 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of First Quantum Minerals Ltd. (FM.TO) from C$16.00 to C$16.50 in a research note on Friday, October 30th. Finally, National Bank Financial raised their price target on shares of First Quantum Minerals Ltd. (FM.TO) from C$19.50 to C$28.00 and gave the company an “outperform” rating in a research note on Wednesday, January 6th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of C$20.79.

Shares of First Quantum Minerals Ltd. (FM.TO) stock opened at C$24.24 on Tuesday. The company has a market capitalization of C$16.71 billion and a price-to-earnings ratio of -54.84. The company has a quick ratio of 0.50, a current ratio of 1.03 and a debt-to-equity ratio of 96.04. First Quantum Minerals Ltd. has a 12-month low of C$0.02 and a 12-month high of C$26.72. The firm’s 50-day moving average price is C$21.88 and its two-hundred day moving average price is C$15.27.

First Quantum Minerals Ltd. (FM.TO) (TSE:FM) last announced its quarterly earnings data on Wednesday, October 28th. The company reported C$0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.06) by C$0.17. The firm had revenue of C$1.87 billion for the quarter, compared to analyst estimates of C$1.65 billion. On average, sell-side analysts expect that First Quantum Minerals Ltd. will post 0.89 earnings per share for the current year.

In other First Quantum Minerals Ltd. (FM.TO) news, Senior Officer Zenon Wozniak sold 15,002 shares of the firm’s stock in a transaction that occurred on Monday, December 21st. The shares were sold at an average price of C$21.19, for a total transaction of C$317,856.38. Following the completion of the transaction, the insider now owns 21,287 shares in the company, valued at approximately C$451,020.44. Also, Senior Officer Hannes Meyer sold 33,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of C$15.97, for a total transaction of C$534,995.00. Following the transaction, the insider now owns 82,997 shares of the company’s stock, valued at approximately C$1,325,462.09. Over the last quarter, insiders have sold 74,104 shares of company stock worth $1,362,075.

About First Quantum Minerals Ltd. (FM.TO)

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 mines, including the Ravensthorpe nickel and cobalt 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 Ãayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper, pyrite, zinc mine in Finland.

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Analyst Recommendations for First Quantum Minerals Ltd. (FM.TO) (TSE:FM)

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