First Quantum Minerals (TSE:FM) Given New C$18.00 Price Target at TD Securities

First Quantum Minerals (TSE:FM) had its price objective increased by TD Securities from C$17.00 to C$18.00 in a research report report published on Thursday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also recently weighed in on FM. BMO Capital Markets lowered their price target on First Quantum Minerals from C$17.50 to C$17.00 and set an outperform rating on the stock in a report on Wednesday. Eight Capital increased their price target on First Quantum Minerals from C$16.00 to C$17.00 and gave the stock a neutral rating in a research note on Monday. UBS Group set a C$16.00 price target on First Quantum Minerals and gave the stock a neutral rating in a research note on Tuesday, January 16th. Bank of America increased their price target on First Quantum Minerals from C$16.00 to C$17.00 in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada raised First Quantum Minerals from a sector perform rating to an outperform rating and increased their price target for the stock from C$17.00 to C$18.00 in a research note on Monday, March 4th. 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, First Quantum Minerals currently has an average rating of Hold and a consensus price target of C$16.96.

First Quantum Minerals Stock Performance

FM opened at C$16.24 on Thursday. The stock has a market cap of C$13.54 billion, a P/E ratio of -8.68, a P/E/G ratio of -1.28 and a beta of 2.01. The company has a debt-to-equity ratio of 81.21, a current ratio of 1.72 and a quick ratio of 1.41. The stock’s 50 day simple moving average is C$14.19 and its 200 day simple moving average is C$15.08. 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 quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). The firm had revenue of C$1.66 billion during the quarter, compared to analyst estimates 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%. As a group, equities analysts anticipate 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.