First Quantum Minerals (TSE:FM) Given New C$17.00 Price Target at BMO Capital Markets

First Quantum Minerals (TSE:FM) had its price objective cut by investment analysts at BMO Capital Markets from C$17.50 to C$17.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 7.26% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. Jefferies Financial Group raised First Quantum Minerals from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$13.00 to C$18.00 in a research report on Thursday, February 22nd. JPMorgan Chase & Co. lifted their price objective on shares of First Quantum Minerals from C$12.00 to C$18.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Citigroup dropped their price objective on shares of First Quantum Minerals from C$32.00 to C$14.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 10th. TD Securities increased their price target on shares of First Quantum Minerals from C$14.50 to C$15.50 and gave the company a “hold” rating in a report on Monday, March 4th. Finally, CIBC boosted their price objective on First Quantum Minerals from C$14.00 to C$15.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Quantum Minerals has a consensus rating of “Hold” and a consensus target price of C$16.85.

First Quantum Minerals Stock Up 2.1 %

Shares of TSE FM traded up C$0.33 during trading hours on Wednesday, hitting C$15.85. The company had a trading volume of 1,497,826 shares, compared to its average volume of 3,020,665. First Quantum Minerals has a 1-year low of C$9.31 and a 1-year high of C$39.13. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 81.21. The firm’s 50 day moving average is C$14.01 and its 200-day moving average is C$15.07. The stock has a market capitalization of C$13.21 billion, a P/E ratio of -8.48, a price-to-earnings-growth ratio of -1.28 and a beta of 2.01.

First Quantum Minerals (TSE:FM) last announced its quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing analysts’ consensus estimates of C($0.10) by C($0.40). First Quantum Minerals had a negative net margin of 14.78% and a negative return on equity of 10.80%. The firm had revenue of C$1.66 billion during the quarter, compared to analyst estimates of C$1.58 billion. On average, analysts expect that First Quantum Minerals will post 0.7906736 earnings per share for the current fiscal year.

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.