Canaccord Genuity Group Downgrades First Quantum Minerals (TSE:FM) to Hold

First Quantum Minerals (TSE:FM) was downgraded by Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued on Thursday,BayStreet.CA reports. They currently have a C$20.00 target price on the stock, down from their prior target price of C$24.00. Canaccord Genuity Group’s price objective points to a potential upside of 6.72% from the company’s current price.

FM has been the topic of a number of other research reports. Jefferies Financial Group dropped their target price on shares of First Quantum Minerals from C$23.00 to C$22.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of First Quantum Minerals from C$20.00 to C$18.00 in a report on Friday, November 8th. National Bankshares upped their price target on First Quantum Minerals from C$21.00 to C$22.50 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Morgan Stanley lifted 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. Finally, Royal Bank of Canada increased their target price on First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$20.93.

First Quantum Minerals Stock Down 3.7 %

Shares of FM stock traded down C$0.73 during midday trading on Thursday, reaching C$18.74. 1,225,979 shares of the stock were exchanged, compared to its average volume of 1,781,570. The firm has a market cap of C$15.63 billion, a PE ratio of -7.24, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73. 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 company’s 50 day moving average is C$19.06 and its two-hundred day moving average is C$17.88. First Quantum Minerals has a 1 year low of C$10.91 and a 1 year high of C$21.45.

Insider Buying and Selling at First Quantum Minerals

In other news, Senior Officer Zenon Wozniak sold 45,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$20.32, for a total value of C$914,400.00. Also, Director Simon John Scott acquired 1,397 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were acquired at an average cost of C$18.57 per share, for a total transaction 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.