First Quantum Minerals (TSE:FM) Price Target Raised to C$33.50

First Quantum Minerals (TSE:FM) had its price target lifted by equities research analysts at Morgan Stanley from C$30.20 to C$33.50 in a note issued to investors on Tuesday,BayStreet.CA reports. Morgan Stanley’s target price points to a potential downside of 0.45% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Stifel Nicolaus raised shares of First Quantum Minerals from a “hold” rating to a “buy” rating and lifted their price target for the company from C$26.00 to C$38.00 in a report on Tuesday, October 21st. Stifel Canada upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Raymond James Financial upped their target price on shares of First Quantum Minerals from C$25.00 to C$29.00 in a report on Friday, October 10th. Scotiabank raised their price target on First Quantum Minerals from C$34.00 to C$35.00 in a report on Tuesday, October 28th. Finally, Royal Bank Of Canada upped their price objective on First Quantum Minerals from C$35.00 to C$40.00 in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$34.57.

First Quantum Minerals Stock Performance

FM stock traded down C$0.23 during midday trading on Tuesday, reaching C$33.65. 1,193,832 shares of the company’s stock traded hands, compared to its average volume of 2,361,326. The stock has a market cap of C$28.07 billion, a P/E ratio of 560.83, a PEG ratio of -1.28 and a beta of 1.43. 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 stock’s 50-day moving average is C$30.79 and its 200 day moving average is C$26.56. First Quantum Minerals has a 52-week low of C$14.41 and a 52-week high of C$34.84.

First Quantum Minerals (TSE:FM) last issued its quarterly earnings results on Tuesday, October 28th. The company reported C($0.02) EPS for the quarter. First Quantum Minerals had a negative return on equity of 14.05% and a negative net margin of 32.41%.The company had revenue of C$1.87 billion during the quarter. As a group, analysts anticipate that First Quantum Minerals will post 0.55872 EPS for the current year.

Insider Buying and Selling

In other news, Director Charles Kevin Mcarthur purchased 10,000 shares of the business’s stock in a transaction on Friday, October 31st. The stock was acquired at an average price of C$29.06 per share, for a total transaction of C$290,600.00. Following the acquisition, the director directly owned 35,000 shares of the company’s stock, valued at C$1,017,100. This represents a 40.00% increase in their position. Insiders purchased 10,474 shares of company stock worth $304,575 over the last three months. 19.35% of the stock is currently owned by corporate insiders.

About First Quantum Minerals

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.