TD Securities Issues Positive Forecast for First Quantum Minerals (TSE:FM) Stock Price

First Quantum Minerals (TSE:FM) had its price target increased by TD Securities from C$34.00 to C$41.00 in a note issued to investors on Thursday,BayStreet.CA reports. TD Securities’ price objective would indicate a potential upside of 4.75% from the company’s previous close.

FM has been the subject of several other research reports. CIBC upped their target price on shares of First Quantum Minerals from C$26.00 to C$36.00 in a research note on Friday, October 10th. Citigroup boosted their price target on shares of First Quantum Minerals from C$26.00 to C$39.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Morgan Stanley raised their price objective on First Quantum Minerals from C$30.20 to C$33.50 in a research note on Tuesday, December 16th. Raymond James Financial increased their price target on First Quantum Minerals from C$25.00 to C$29.00 in a report on Friday, October 10th. Finally, Royal Bank Of Canada lifted their price objective on First Quantum Minerals from C$35.00 to C$40.00 in a report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Quantum Minerals has a consensus rating of “Moderate Buy” and a consensus price target of C$37.56.

First Quantum Minerals Trading Down 5.1%

TSE FM traded down C$2.09 on Thursday, reaching C$39.14. The company had a trading volume of 1,573,520 shares, compared to its average volume of 2,060,822. First Quantum Minerals has a 52 week low of C$14.41 and a 52 week high of C$42.20. The stock’s 50 day moving average is C$34.83 and its 200-day moving average is C$29.50. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 56.41. The stock has a market cap of C$32.65 billion, a price-to-earnings ratio of 652.33, a PEG ratio of -1.28 and a beta of 1.37.

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

Insider Buying and Selling

In other news, Director Charles Kevin Mcarthur purchased 10,000 shares of First Quantum Minerals stock in a transaction on Friday, October 31st. The stock was purchased at an average price of C$29.06 per share, with a total value of C$290,600.00. Following the transaction, the director directly owned 35,000 shares in the company, valued at C$1,017,100. The trade was a 40.00% increase in their position. In the last quarter, insiders purchased 10,474 shares of company stock valued at $304,575. Insiders own 19.35% of the company’s stock.

First Quantum Minerals Company Profile

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.