First Quantum Minerals (TSE:FM) PT Raised to C$18.90 at Morgan Stanley

First Quantum Minerals (TSE:FM) had its price target increased by Morgan Stanley from C$17.00 to C$18.90 in a report issued on Thursday, BayStreet.CA reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 29.36% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets boosted their price target on shares of First Quantum Minerals from C$17.00 to C$17.50 and gave the company an “outperform” rating in a research note on Monday, March 4th. UBS Group set a C$16.00 price objective on First Quantum Minerals and gave the company a “neutral” rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. raised their target price on First Quantum Minerals from C$11.00 to C$12.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Raymond James boosted their price target on shares of First Quantum Minerals from C$13.00 to C$16.00 in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada raised shares of 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 report on Monday, March 4th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$15.84.

First Quantum Minerals Trading Up 2.7 %

FM traded up C$0.38 during trading hours on Thursday, reaching C$14.61. The company’s stock had a trading volume of 1,376,004 shares, compared to its average volume of 3,129,477. The business’s 50-day moving average is C$12.89 and its 200-day moving average is C$17.47. 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 has a market cap of C$12.18 billion, a PE ratio of -7.79, a P/E/G ratio of -1.28 and a beta of 1.97. First Quantum Minerals has a fifty-two week low of C$9.31 and a fifty-two week 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 business had revenue of C$1.66 billion for the quarter, compared to analysts’ expectations 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 research analysts predict that First Quantum Minerals will post 0.6901554 earnings per share 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.