First Quantum Minerals (TSE:FM) Downgraded by BMO Capital Markets to “Market Perform”

BMO Capital Markets cut shares of First Quantum Minerals (TSE:FM) from an outperform rating to a market perform rating in a report released on Tuesday morning, Marketbeat reports. BMO Capital Markets currently has C$19.00 price target on the stock, up from their previous price target of C$17.00.

FM has been the subject of several other research reports. TD Securities lifted their price objective on shares of First Quantum Minerals from C$17.00 to C$18.00 and gave the stock a hold rating in a research note on Thursday, April 25th. CIBC raised their target price on shares of First Quantum Minerals from C$14.00 to C$15.00 and gave the company a neutral rating in a report on Wednesday, April 17th. Bank of America raised their target price on shares of First Quantum Minerals from C$16.00 to C$17.00 in a report on Tuesday, April 9th. Eight Capital raised their target price on shares of First Quantum Minerals from C$16.00 to C$17.00 and gave the company a neutral rating in a report on Monday, April 22nd. Finally, Canaccord Genuity Group decreased their target price on shares of First Quantum Minerals from C$22.00 to C$21.50 and set a buy rating on the stock in a report on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, First Quantum Minerals currently has a consensus rating of Hold and a consensus target price of C$17.25.

First Quantum Minerals Stock Performance

TSE FM opened at C$18.10 on Tuesday. The firm has a 50-day moving average of C$16.42 and a 200-day moving average of C$13.90. The company has a debt-to-equity ratio of 52.05, a quick ratio of 1.41 and a current ratio of 2.68. The stock has a market cap of C$15.09 billion, a PE ratio of -7.84, a P/E/G ratio of -1.28 and a beta of 1.96. First Quantum Minerals has a 52-week low of C$9.31 and a 52-week high of C$39.13.

First Quantum Minerals (TSE:FM) last posted its earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). The company had revenue of C$1.40 billion for the quarter, compared to analyst estimates of C$1.25 billion. First Quantum Minerals had a negative return on equity of 12.97% and a negative net margin of 20.02%. On average, sell-side analysts anticipate that First Quantum Minerals will post 1.0067358 EPS for the current year.

First Quantum Minerals Company Profile

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.