First Quantum Minerals (TSE:FM) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, Analyst Price Targets reports. They currently have a C$24.50 price target on the stock, down from their prior price target of C$40.00. Bank of America‘s target price would suggest a potential upside of 7.03% from the company’s previous close.
Other research analysts also recently issued reports about the stock. BMO Capital Markets reiterated a “hold” rating on shares of First Quantum Minerals in a report on Thursday, September 2nd. Scotiabank raised their target price on First Quantum Minerals from C$34.00 to C$40.00 in a research note on Monday, July 12th. CLSA raised their target price on First Quantum Minerals to C$41.30 and gave the stock an “outperform” rating in a research note on Tuesday, August 10th. CIBC reissued an “outperform” rating and issued a C$38.50 price objective on shares of First Quantum Minerals in a research note on Tuesday, August 3rd. Finally, Jefferies Financial Group cut their target price on First Quantum Minerals from C$42.00 to C$40.00 and set a “na” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, First Quantum Minerals has a consensus rating of “Hold” and an average price target of C$33.32.
First Quantum Minerals stock opened at C$22.89 on Wednesday. The firm has a 50-day moving average of C$24.89 and a 200-day moving average of C$26.82. First Quantum Minerals has a one year low of C$11.25 and a one year high of C$35.07. The company has a debt-to-equity ratio of 94.39, a current ratio of 1.67 and a quick ratio of 1.01. The company has a market cap of C$15.82 billion and a price-to-earnings ratio of 38.60.
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, pyrite, gold, silver, and zinc ores, as well as produces acid. The company holds 100% interests in the Ravensthorpe nickel and cobalt mine in Australia; the Sentinel copper project in North Western Province of Zambia; the Las Cruces copper mine in Spain; the Guelb Moghrein copper-gold mine in Mauritania; the PyhÃ¤salmi copper, pyrite, zinc mine in Finland; and the Ãayeli copper-zinc mine in Turkey.
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