Morgan Stanley downgraded shares of First Quantum Minerals (TSE:FM – Free Report) from an overweight rating to an equal weight rating in a research report released on Monday, BayStreet.CA reports.
A number of other research analysts also recently issued reports on FM. Bank of America lifted their price target on shares of First Quantum Minerals from C$16.00 to C$17.00 in a research note on Tuesday, April 9th. Scotiabank lifted their price target on shares of First Quantum Minerals from C$18.00 to C$19.00 and gave the stock a sector perform rating in a research note on Thursday, May 30th. BMO Capital Markets downgraded shares of First Quantum Minerals from an outperform rating to a market perform rating and lifted their price target for the stock from C$17.00 to C$19.00 in a research note on Tuesday, May 21st. CIBC boosted their price objective on shares of First Quantum Minerals from C$15.00 to C$18.00 and gave the stock a neutral rating in a research report on Thursday, June 20th. Finally, Raymond James boosted their price objective on shares of First Quantum Minerals from C$19.00 to C$21.00 in a research report on Thursday, May 23rd. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of C$19.46.
First Quantum Minerals Price Performance
First Quantum Minerals (TSE:FM – Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported C($0.27) earnings per share 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 net margin of 20.02% and a negative return on equity of 12.97%. As a group, analysts forecast that First Quantum Minerals will post 1.0067358 EPS for the current year.
Insider Buying and Selling at First Quantum Minerals
In other First Quantum Minerals news, Senior Officer Zenon Wozniak sold 49,250 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of C$17.97, for a total value of C$885,022.50. 16.10% of the stock is owned by insiders.
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.
Further Reading
- Five stocks we like better than First Quantum Minerals
- Are Penny Stocks a Good Fit for Your Portfolio?
- This Stock’s Price Shifts Into High Gear With Analyst Upgrades
- Best Aerospace Stocks Investing
- AI Boosts Glass Tech Leader Stock: Shares Up 75% and More to Come
- What is the NASDAQ Stock Exchange?
- AI Partnership Boosts This Top Tech Stock: Ready for More Gains?
Receive News & Ratings for First Quantum Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Quantum Minerals and related companies with MarketBeat.com's FREE daily email newsletter.