First Quantum Minerals (TSE:FM) Price Target Raised to C$47.00

First Quantum Minerals (TSE:FM) had its price objective increased by Jefferies Financial Group from C$38.00 to C$47.00 in a research note published on Monday morning,BayStreet.CA reports.

A number of other research firms have also recently weighed in on FM. Morgan Stanley upped their price target on First Quantum Minerals from C$30.20 to C$33.50 in a report on Tuesday, December 16th. CIBC upped their target price on First Quantum Minerals from C$26.00 to C$36.00 in a research note on Friday, October 10th. Royal Bank Of Canada lifted their price target on shares of First Quantum Minerals from C$35.00 to C$40.00 in a research note on Wednesday, December 10th. Scotiabank upped their price objective on shares of First Quantum Minerals from C$35.00 to C$41.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 8th. Finally, Barclays lifted their target price on shares of First Quantum Minerals from C$38.00 to C$44.30 in a research report on Thursday, January 8th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$35.99.

First Quantum Minerals Stock Performance

FM opened at C$41.35 on Monday. The firm has a fifty day moving average price of C$33.73 and a 200 day moving average price of C$28.93. First Quantum Minerals has a 1 year low of C$14.41 and a 1 year high of C$41.70. The stock has a market cap of C$34.49 billion, a P/E ratio of 689.17, a P/E/G ratio of -1.28 and a beta of 1.37. The company has a debt-to-equity ratio of 56.41, a current ratio of 1.80 and a quick ratio of 1.41.

First Quantum Minerals (TSE:FM) last released its quarterly earnings results on Tuesday, October 28th. The company reported C($0.02) EPS for the quarter. The firm had revenue of C$1.87 billion for the quarter. First Quantum Minerals had a negative net margin of 32.41% and a negative return on equity of 14.05%. Equities research analysts anticipate that First Quantum Minerals will post 0.55872 earnings per share for the current year.

Insider Activity

In other First Quantum Minerals news, Director Charles Kevin Mcarthur bought 10,000 shares of First Quantum Minerals stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of C$29.06 per share, for a total transaction of C$290,600.00. Following the completion of the transaction, the director directly owned 35,000 shares of the company’s stock, valued at approximately C$1,017,100. This represents a 40.00% increase in their ownership of the stock. Insiders have acquired a total of 10,474 shares of company stock worth $304,575 over the last ninety days. 19.35% of the stock is owned by corporate insiders.

About First Quantum Minerals

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Finland, Turkey, Spain, and Mauritania. The firm’s project comprises Guelb Moghrein, Sentinel, Kansanshi, Cobre Panama, Pyhasalmi, Ravensthorpe, among others.