Jefferies Financial Group Cuts First Quantum Minerals (TSE:FM) Price Target to C$22.00

First Quantum Minerals (TSE:FM) had its price target cut by research analysts at Jefferies Financial Group from C$23.00 to C$22.00 in a research note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective would indicate a potential upside of 12.42% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Barclays upgraded First Quantum Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 12th. Morgan Stanley raised their price objective on First Quantum Minerals from C$20.20 to C$22.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada upped their target price on First Quantum Minerals from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on shares of First Quantum Minerals from C$20.00 to C$18.00 in a research report on Friday, November 8th. Finally, National Bankshares increased their price target on First Quantum Minerals from C$21.00 to C$22.50 and gave the company an “outperform” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, First Quantum Minerals currently has a consensus rating of “Hold” and an average target price of C$21.00.

First Quantum Minerals Stock Up 2.4 %

FM traded up C$0.46 during trading hours on Monday, hitting C$19.57. 1,076,193 shares of the company’s stock were exchanged, compared to its average volume of 1,103,933. First Quantum Minerals has a 12-month low of C$10.91 and a 12-month high of C$21.45. The firm has a 50 day moving average of C$18.84 and a 200 day moving average of C$17.73. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 67.00. The firm has a market cap of C$16.32 billion, a P/E ratio of -7.56, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

Insider Transactions at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of C$20.32, for a total value of C$914,400.00. Also, Director Simon John Scott purchased 1,397 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were bought at an average price of C$18.57 per share, with a total value of C$25,942.29. Company insiders own 19.35% 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.