First Quantum Minerals (TSE:FM) PT Raised to C$16.00

First Quantum Minerals (TSE:FM) had its target price hoisted by Barclays from C$13.00 to C$16.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on FM. Raymond James increased their target price on First Quantum Minerals from C$13.00 to C$16.00 in a report on Wednesday, March 20th. Jefferies Financial Group upgraded First Quantum Minerals from a hold rating to a buy rating and raised their price objective for the company from C$13.00 to C$18.00 in a report on Thursday, February 22nd. Scotiabank decreased their price objective on First Quantum Minerals from C$14.50 to C$13.00 and set a sector perform rating for the company in a report on Thursday, February 22nd. National Bankshares upgraded First Quantum Minerals from a sector perform rating to an outperform rating and raised their price objective for the company from C$15.00 to C$16.50 in a report on Friday, March 1st. Finally, Stifel Nicolaus set a C$14.00 price objective on First Quantum Minerals and gave the company a hold rating in a report on Tuesday, March 26th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of C$16.02.

First Quantum Minerals Price Performance

FM stock opened at C$16.09 on Tuesday. The stock has a 50-day moving average price of C$13.70 and a two-hundred day moving average price of C$15.57. The stock has a market cap of C$13.41 billion, a PE ratio of -8.60, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 81.21. First Quantum Minerals has a 1 year low of C$9.31 and a 1 year high of C$39.13.

First Quantum Minerals (TSE:FM) last released its earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). The firm had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.58 billion. First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. Equities analysts forecast that First Quantum Minerals will post 0.7906736 EPS for the current fiscal 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.