First Quantum Minerals (TSE:FM) Price Target Cut to C$18.50 by Analysts at Scotiabank

First Quantum Minerals (TSE:FM) had its price target decreased by Scotiabank from C$19.00 to C$18.50 in a report issued on Thursday, BayStreet.CA reports.

Several other research firms have also weighed in on FM. TD Securities lifted their target price on shares of First Quantum Minerals from C$17.00 to C$18.00 and gave the company a hold rating in a report on Thursday, April 25th. Raymond James lifted their target price on shares of First Quantum Minerals from C$19.00 to C$21.00 in a report on Thursday, May 23rd. Barclays lifted their target price 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. Stifel Nicolaus lifted their price target on shares of First Quantum Minerals from C$15.00 to C$18.00 and gave the company a hold rating in a research note on Thursday, May 30th. Finally, Jefferies Financial Group lifted their price target on shares of First Quantum Minerals from C$19.50 to C$23.00 in a research note on Monday, July 8th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of C$19.88.

First Quantum Minerals Stock Performance

FM opened at C$16.68 on Thursday. First Quantum Minerals has a 12-month low of C$9.31 and a 12-month high of C$39.13. The company has a current ratio of 2.68, a quick ratio of 1.41 and a debt-to-equity ratio of 52.05. The firm has a market capitalization of C$13.90 billion, a PE ratio of -7.22, a P/E/G ratio of -1.28 and a beta of 1.96. The firm has a 50 day moving average of C$17.78 and a two-hundred day moving average of C$15.48.

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

Insider Transactions at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 49,250 shares of First Quantum Minerals stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of C$17.97, for a total transaction of C$885,022.50. Insiders own 16.10% of the company’s stock.

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.