First Quantum Minerals (TSE:FM) Price Target Raised to C$19.00

First Quantum Minerals (TSE:FM) had its price objective upped by Raymond James from C$16.00 to C$19.00 in a report published on Tuesday morning, BayStreet.CA reports. Raymond James also issued estimates for First Quantum Minerals’ Q1 2024 earnings at ($0.10) EPS, Q2 2024 earnings at ($0.06) EPS, Q2 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.04 EPS, Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at $0.07 EPS, FY2024 earnings at ($0.15) EPS and FY2024 earnings at $0.03 EPS.

A number of other brokerages have also recently issued reports on FM. Jefferies Financial Group raised shares of First Quantum Minerals from a hold rating to a buy rating and upped their price objective for the company from C$13.00 to C$18.00 in a research note on Thursday, February 22nd. Royal Bank of Canada raised shares of First Quantum Minerals from a sector perform rating to an outperform rating and upped their price objective for the company from C$17.00 to C$18.00 in a research note on Monday, March 4th. National Bankshares upgraded shares of First Quantum Minerals from a sector perform rating to an outperform rating and upped their price target for the company from C$15.00 to C$16.50 in a report on Friday, March 1st. Barclays upped their price target on shares of First Quantum Minerals from C$13.00 to C$16.00 and gave the company an equal weight rating in a report on Tuesday, April 16th. Finally, Scotiabank lowered their price target on shares of First Quantum Minerals from C$14.50 to C$13.00 and set a sector perform rating for the company in a report on Thursday, February 22nd. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of C$16.96.

First Quantum Minerals Price Performance

FM stock opened at C$16.24 on Tuesday. The company has a debt-to-equity ratio of 81.21, a current ratio of 1.72 and a quick ratio of 1.41. First Quantum Minerals has a one year low of C$9.31 and a one year high of C$39.13. The stock has a market cap of C$13.54 billion, a PE ratio of -8.68, a P/E/G ratio of -1.28 and a beta of 2.01. The firm has a 50 day simple moving average of C$14.19 and a two-hundred day simple moving average of C$15.08.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported C($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%. The business had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.58 billion. On average, analysts predict 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.