First Quantum Minerals (TSE:FM) PT Lowered to C$21.50 at Canaccord Genuity Group

First Quantum Minerals (TSE:FM) had its price objective cut by investment analysts at Canaccord Genuity Group from C$22.00 to C$21.50 in a report issued on Thursday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 32.72% from the company’s previous close.

FM has been the topic of a number of other research reports. Royal Bank of Canada raised First Quantum Minerals from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$17.00 to C$18.00 in a research report on Monday, March 4th. Citigroup cut their price objective on First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 10th. National Bankshares upgraded shares of First Quantum Minerals from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$15.00 to C$16.50 in a research note on Friday, March 1st. National Bank Financial upgraded shares of First Quantum Minerals from a “sec perform spec market wgt” rating to an “outperform spec market weight” rating in a research note on Thursday, February 29th. Finally, BMO Capital Markets lowered their target price on shares of First Quantum Minerals from C$17.50 to C$17.00 and set an “outperform” rating for the company in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$16.96.

First Quantum Minerals Trading Up 1.6 %

TSE:FM traded up C$0.26 during midday trading on Thursday, hitting C$16.20. The stock had a trading volume of 2,237,961 shares, compared to its average volume of 3,019,317. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$39.13. The company has a market capitalization of C$13.50 billion, a price-to-earnings ratio of -8.71, a PEG ratio of -1.28 and a beta of 2.01. The stock has a 50-day moving average of C$14.10 and a 200 day moving average of C$15.08. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 81.21.

First Quantum Minerals (TSE:FM) last issued 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). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The firm had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.58 billion. As a group, sell-side analysts forecast that First Quantum Minerals will post 0.7906736 EPS for the current 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.