First Quantum Minerals (TSE:FM) PT Lowered to C$21.50 at Canaccord Genuity Group

First Quantum Minerals (TSE:FM) had its target price cut by equities researchers at Canaccord Genuity Group from C$22.00 to C$21.50 in a research note issued on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 32.72% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets lowered their price target on shares of First Quantum Minerals from C$17.50 to C$17.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target 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. Bank of America lifted their price objective on shares of First Quantum Minerals from C$16.00 to C$17.00 in a research note on Tuesday, April 9th. TD Securities lifted their price objective on shares of First Quantum Minerals from C$14.50 to C$15.50 and gave the stock a “hold” rating in a research note on Monday, March 4th. Finally, UBS Group set a C$16.00 price objective on shares of First Quantum Minerals and gave the stock a “neutral” rating in a research note on Tuesday, January 16th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, First Quantum Minerals currently has an average rating of “Hold” and a consensus price target of C$16.96.

First Quantum Minerals Price Performance

FM traded up C$0.26 during midday trading on Thursday, hitting C$16.20. The company had a trading volume of 2,237,961 shares, compared to its average volume of 3,019,317. The company has a debt-to-equity ratio of 81.21, a quick ratio of 1.41 and a current ratio of 1.72. The company has a market capitalization of C$13.50 billion, a PE ratio of -8.71, a P/E/G ratio of -1.28 and a beta of 2.01. First Quantum Minerals has a twelve month low of C$9.31 and a twelve month high of C$39.13. The firm’s 50-day simple moving average is C$14.10 and its 200-day simple moving average is C$15.08.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported C($0.50) EPS for the quarter, missing the consensus estimate of C($0.10) by C($0.40). First Quantum Minerals had a negative return on equity of 10.80% and a negative net margin of 14.78%. The business had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.58 billion. Equities research analysts predict that First Quantum Minerals will post 0.7906736 EPS 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.