First Quantum Minerals (TSE:FM) had its price target increased by Scotiabank from C$21.00 to C$23.00 in a note issued to investors on Wednesday, February 21st. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 11.98% from the stock’s previous close.
Several other brokerages have also recently issued reports on FM. Royal Bank of Canada lifted their price objective on First Quantum Minerals from C$21.00 to C$23.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Berenberg Bank cut their price target on First Quantum Minerals from C$19.00 to C$18.00 in a research report on Wednesday, February 14th. Raymond James Financial lifted their target price on First Quantum Minerals from C$20.00 to C$21.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. Eight Capital lifted their price target on First Quantum Minerals from C$25.00 to C$26.00 in a research note on Tuesday, February 13th. Finally, BMO Capital Markets set a C$24.00 target price on First Quantum Minerals and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of C$21.27.
Shares of FM stock traded down C$0.65 during mid-day trading on Wednesday, hitting C$20.54. The stock had a trading volume of 2,031,253 shares, compared to its average volume of 3,157,671. First Quantum Minerals has a twelve month low of C$9.69 and a twelve month high of C$22.00. The firm has a market cap of $14,780.00, a P/E ratio of -34.23 and a beta of 2.75.
About First Quantum Minerals
First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, gold, and zinc ores, as well as produces acid. The company operates in seven mines and one copper smelter, including the Ravensthorpe nickel mine in Australia; the Kansanshi copper-gold mine in Zambia; the Sentinel copper operation in North Western Province of Zambia; the Guelb Moghrein copper-gold mine in Mauritania; the Çayeli copper-zinc mine in Turkey; the Las Cruces copper mine in Spain; and the Pyhäsalmi copper-zinc mine in Finland.
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