First Quantum Minerals (TSE:FM) Shares Down 2.8% – Here’s Why

First Quantum Minerals Ltd. (TSE:FM)’s share price was down 2.8% during trading on Monday . The company traded as low as C$16.01 and last traded at C$16.09. Approximately 542,711 shares traded hands during trading, a decline of 80% from the average daily volume of 2,685,906 shares. The stock had previously closed at C$16.56.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FM. Royal Bank of Canada raised their price objective on First Quantum Minerals from C$23.00 to C$24.00 in a research note on Wednesday, January 8th. Barclays decreased their price target on shares of First Quantum Minerals from C$25.00 to C$23.40 in a report on Thursday, January 30th. Morgan Stanley dropped their price objective on shares of First Quantum Minerals from C$19.70 to C$19.40 in a research note on Wednesday, April 9th. Raymond James boosted their target price on shares of First Quantum Minerals from C$20.00 to C$21.00 in a research note on Friday, April 4th. Finally, BMO Capital Markets raised First Quantum Minerals to a “strong-buy” rating in a report on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$21.77.

First Quantum Minerals Stock Performance

The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 56.41. The company has a 50-day moving average price of C$18.59 and a two-hundred day moving average price of C$18.74. The stock has a market capitalization of C$8.96 billion, a P/E ratio of -5.84, a price-to-earnings-growth ratio of -1.28 and a beta of 1.73.

First Quantum Minerals (TSE:FM) last issued its earnings results on Tuesday, February 11th. The company reported C$0.04 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.01. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%. During the same period in the prior year, the company earned ($0.37) earnings per share. On average, equities analysts forecast that First Quantum Minerals Ltd. will post 0.55872 earnings per share for the current year.

Insider Activity at First Quantum Minerals

In other news, Director Charles Kevin Mcarthur purchased 25,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of C$17.23 per share, for a total transaction of C$430,842.13. Also, Senior Officer Zenon Wozniak sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of C$21.11, for a total value of C$844,400.00. 19.35% of the stock is owned by corporate insiders.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd is a diversified mining company. The company’s principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite.